Boohoo has reportedly secured an event space and showroom in the heart of London, making it the latest online-only retailer to step into physical retail. According to Retail Week, the fashion retailer is slated to move in to a unit on Great Portland Street in London’s West End.
The 5300sq ft unit was last occupied by collapsed electronics retailer Maplin, and features a showroom as well as event and office spaces. This would mark the online retailer’s first move into bricks-and-mortar and comes on the back of continuing growth. In its first quarter period ending May 31, Boohoo recorded a 39 per cent jump in sales to £254.3 million.
The results followed a bumper full-year, when overall revenue skyrocketed by 48 per cent to £856.9 million in the year to February 28, and pre-tax profit jumped 38 per cent to £59.9 million.
