Boohoo to invest £500 million, create 5,000 jobs

British online fashion retailer Boohoo said on Thursday it planned to invest £500 million ($693 million) in the UK over the next five years, creating 5,000 jobs.

Manchester-based Boohoo, which sells clothing, shoes, accessories and beauty products aimed at 16 to 40-year olds, has expanded rapidly since launching in 2006 and now trades from 13 brands.

The group said that to meet growing demand it planned to secure additional warehouse space and invest in technology to help its operations become more efficient.

The group’s rapid growth has not been without criticism.

Last September Boohoo accepted all the recommendations of an independent review that found major failings in its supply chain in England after newspaper allegations about unacceptable working conditions and low pay in factories in the Leicester area.

The group has pledged to fix the problems with its ‘Agenda for Change’ programme.