"Marks & Spencer has agreed to acquire a major warehouse site from Asos, a move expected to create around 600 jobs and accelerate the retailer's push to double online sales. The 437,000 square foot distribution centre in Lichfield, Staffordshire, will become one of M&S's largest logistics hubs when it opens in 2027, strengthening the company's growing fashion, home and beauty operation."
"M&S said the acquisition would significantly expand its distribution capacity, enabling customers to place orders later in the day while improving product availability and delivery speeds. John Lyttle, managing director of M&S fashion, home and beauty, said the new facility would support the retailer's ambition to "deliver more M&S fashion faster than ever before"."
""As we transform M&S fashion, home and beauty, our ambition is to double online sales," he said. "To achieve this and serve our customers faster, more efficiently and with better availability, our 24/7 distribution network needs more capacity.""
"The retailer added that purchasing an existing site represented a faster and more cost-effective route than constructing a new warehouse from scratch. For Asos, the sale marks another step in its ongoing turnaround strategy under chief executive José Antonio Ramos. The online fashion group said the transaction would generate at least £66 million in proceeds while reducing annual operating costs by approximately £6 million through savings in rent and maintenance."
M&S agreed to acquire a 437,000 square foot distribution centre in Lichfield, Staffordshire, from Asos. The facility will open in 2027 and become one of M&S’s largest logistics hubs, supporting its fashion, home, and beauty operations. The move is expected to create around 600 jobs and accelerate efforts to double online sales. The expanded distribution capacity will allow customers to place orders later in the day, improve product availability, and increase delivery speeds. Asos mothballed the site in 2023 during a cost-cutting restructuring program. M&S said buying an existing warehouse is faster and more cost-effective than building new. Asos expects proceeds of at least £66 million, annual operating cost reductions of about £6 million, and a one-off profit boost of roughly £85 million, with the deal closing by the end of August.
Read at London Business News | Londonlovesbusiness.com
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