boohoo group plc Update on Agenda for Change programme (5947G)
November 26 2020 - 2:00AM
UK Regulatory
TIDMBOO
RNS Number : 5947G
boohoo group plc
26 November 2020
For Immediate Release 26 November 2020
The information contained within this announcement is deemed by
the company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
boohoo group plc
("boohoo" or "the Group")
Update on Agenda for Change programme
boohoo is pleased to announce that it has appointed Sir Brian
Leveson PC to provide independent oversight of the Group's Agenda
for Change programme so as to deliver long-lasting and meaningful
change to the Group's supply chain and its business practices.
Sir Brian will report directly to the Board and his reports will
be published, thereby bringing both transparency and further
independence to the process. He has also appointed both legal, and
independent enquiry and enforcement specialists to supplement the
Agenda for Change programme to ensure that everyone associated with
the Group's supply chain is treated fully in accordance with the
law and the principles of ethical trading.
In recent weeks, and as part of significant and continuing
investment by the Group in this area, significant steps have been
taken to put in place the platform that will facilitate delivery of
the Agenda for Change programme. The Group has appointed KPMG to
assist with the programme, bringing additional resource, expertise
and independence to the process. KPMG will work with the Group's
growing responsible sourcing and compliance team, and existing
supply chain auditors Bureau Veritas and Verisio.
Mahmud Kamani, Group Executive Chairman, commented:
"I am encouraged by the progress that has been made to date by
our teams since setting out our Agenda for Change programme in
September. Myself and the board are fully committed to this
programme, with the appointments of Sir Brian Leveson and KPMG
bringing independent oversight, additional expertise and further
transparency to a programme that will help us on our journey to
lead the fashion e-commerce market globally in a transparent
manner."
Sir Brian Leveson PC, commented:
"boohoo has recognised that it must institute and embed change
so that everyone involved in the Group's supply chain is treated
fully in accordance with the law and the principles of ethical
trading. I look forward to providing independent oversight of the
Agenda for Change programme and to working with the boohoo team,
KPMG and the other independent experts to achieve this, while, at
the same time, providing publicly available progress reports."
Enquiries
boohoo group plc
Neil Catto, Chief Financial Officer Tel: +44 (0)161 233
2050
Alistair Davies, Investor Relations Tel: +44 (0)161 233
2050
Clara Melia, Investor Relations Tel: +44 (0)20 3289
5520
Zeus Capital - Nominated adviser and
joint broker
Nick Cowles/Andrew Jones (Corporate Finance) Tel: +44 (0)161 831
1512
John Goold/Benjamin Robertson (Corporate Tel: +44 (0)20 3829
Broking) 5000
Jefferies - Joint broker
Philip Noblet/Max Jones Tel: +44 (0)20 7029
8000
Buchanan - Financial PR adviser boohoo@buchanan.uk.com
Richard Oldworth/ Kim Looringh-van Beeck/Toto Tel: +44 (0)20 7466
Berger 5000
About Sir Brian Leveson PC
The Rt Hon Sir Brian Leveson was called to the Bar in 1970 and
was appointed Queens Counsel in 1986. Having served as a Recorder
and Deputy High Court Judge, in 2000, he was appointed a Judge of
the High Court, Queen's Bench Division. He was promoted to the
Court of Appeal in 2006 and in 2013 became President of the Queen's
Bench Division and, latterly, Head of Criminal Justice.
Sir Brian was the inaugural Chair of the Sentencing Council, and
between 2011 and 2012 conducted an Inquiry into the Culture,
Practices and Ethics of the Press. He retired from the bench in
June 2019. He is presently the Investigatory Powers
Commissioner.
About boohoo group plc
"Leading the fashion eCommerce market"
Founded in Manchester in 2006, boohoo is an inclusive and
innovative brand targeting young, value-orientated customers. Since
2006, boohoo has been pushing boundaries to bring its customers
up-to-date and inspirational fashion, 24/7. boohoo has grown
rapidly in the UK and internationally, expanding its offering with
range extensions into menswear, through boohooMAN.
In early 2017 the group extended its customer offering through
the acquisitions of the vibrant fashion brand PrettyLittleThing,
and free-thinking brand Nasty Gal. In March 2019 the group acquired
the MissPap brand, in August 2019 the Karen Millen and Coast
brands, and in June 2020 the Warehouse and Oasis brands, all
complementary to the group's scalable, multi-brand platform. United
by a shared customer value proposition, our brands design, source,
market and sell great quality clothes, shoes and accessories at
unbeatable prices. These investment propositions have helped us
grow from a single brand, into a major multi-brand online retailer,
leading the fashion eCommerce market for 16 to 40-year-olds around
the world. As at 31 August 2020, the boohoo group had just over 17
million active customers across all its brands around the
world.
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