Boohoo has confirmed a 40 per cent rise in its revenues for the ten months to 31 December reaching £1.47bn. It enjoyed particularly strong growth in the USA. The results follow a troubled year for the fast fashion business which had come under fire for having turned a blind eye to poor working practices in some of the UK factories it used to produce some of its ranges.
The company commented in a statement: “Our team worked exceptionally hard in 2020 as we navigated many challenges, including the Covid-19 pandemic and the successful acquisition and integration of Oasis and Warehouse. Growth has been strong across our multi-brand platform and we have continued to grow our market share across all geographies.
“The group is in an excellent position entering 2021, which we expect to be another year of progress towards our goal of leading the fashion eCommerce market globally.”
Boohoo’s executive chairman said, in respect of the business’ focus on raising standards in its supply chain: “I’m pleased to publish Sir Brian Leveson’s first report. I’m immensely proud of the speed with which our team has worked to effect change during such a challenging period for the group, and it’s encouraging to see our progress acknowledged in the report. We’ve added further independent experience to the board and its committees in the period, and I was delighted to welcome Shaun McCabe to the board in November.”
Share