Boohoo bounce back after recent negativity

Boohoo bounce back after recent negativity Ireland

Boohoo bounce back after recent negativity

Boohoo bounce back after recent negativity

In Irish Fashion News, fashion e-tailer, Boohoo have a lot to celebrate after what has been a turbulent few months the Manchester based fashion house.

Despite recent months of negativity surrounding their supply chain operations in Leicester, Boohoo have still managed to see a rise in sales of 45% during the height of the COVID-19 pandemic.

The fashion group which owns other fashion labels like Oasis, PrettyLittleThing, Warehouse, Karen Millen and Nasty Gal have seen a rise in profits of 51% with sales rising to £816.5 million pounds (€900 million euro) since March to August 2020.

The UK fashion retailer puts this put this down to lower returns of fashion items by customers with on average them orders 10% more goods per order.

Boohoo have seen an increase for demand from customers in home casual wear and athleisurewear. The likes of hoodies, tees, joggers and leggings are all top sellers. However, Boohoo also expect to curtail the dress lines on the run up to the festive season given the low demand of party fashion because of COVID restrictions.

More good news for Boohoo as they also seen a rise of over 30% in new customers buying from the site. The company now has recorded over 17 million users to their e-commerce platform and expect to see a rise in sales of 32% for the year.

Boohoo who are a real success story of the on-line fashion industry spent over €180 million euro in acquiring brands like Warehouse and Oasis recently with the company still on the acquisition trail to buy up more brands across America and Europe in the coming months.

This news will come as a sign of relief for Boohoo owners who have been scrutinised in the past few months for their supply chain operations via third party suppliers abusing workers’ pay and conditions.

However, Boohoo were somewhat vindicated in a recent independent report that shows they were unaware of the malpractice of some of their suppliers in the Leicester area of the UK.

The report carried out by Alison Levitt QC make strong recommendations that Boohoo implement changes to their supplier audit and compliance procedures which the company have already addressed.

 

Boohoo bounce back after recent negativity

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