Boohoo to ‘create 5000 new jobs’

Boohoo reportedly has plans to generate 5,000 new jobs as part of a new five-year investment plan.

According to Sky News, the company is investing £500 million to match growing demand.

Boohoo has experienced a huge boost to sales over the past year, as it reaped the benefits of a shift to online during the pandemic.

In May the online fashion retailer reported a pre-tax profit increase of 35 per cent to £1.2 billion, while revenue surged by 41 per cent to £1.7 billion.

The business is planning to use the investment to buy more warehouse space and technology to improve efficiency.

The move comes after the online fashion retailer responded to allegations that some of its Leicester employees are continuing to be exploited.

"As a group, we are wholly confident that the significant steps that we have taken over the last twelve months are resulting in a fair, robust and transparent supply chain,” said John Lyttle, group chief executive, in July.

“The Group continues to closely monitor its suppliers, with swift action taken against any suppliers who fail to demonstrate the high standards that we expect. Nobody has done more to drive change in Leicester than ourselves, and our work continues unabated."

Last year Boohoo faced an independent review which identified major failings in the retailer’s English supply chain. In March 2021, the company cut its number of suppliers down from 200 to 78.

Earlier this month Boohoo hit headlines once again when the company’s chief executive was summoned to a US court over allegations the online fashion retailer promoted fake sales.

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