Boohoo Grp Plc Unsp/Adr (BHOOY) Q2 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thanks for joining us. I'll keep it as brief as I can. I've got Carol, John and Neil joining. Just look, we've had six months. busy buying brands and warehouses and building teams and infrastructure. So there's lots to do taking our business globally as we move every day. We've built a super platform and we continue to do our thing. I'll hand you over to John. Thanks Mahmood and good morning everyone. Firstly, I'm going to give an update on the first half, where the group sits today, then an update on strategy as we invest for the future. Before I get into that, I would like to take this opportunity to thank our teams for their incredible work, talent and commitment as we continue to navigate through the COVID-19 pandemic. We're now 18 months into the pandemic and looking back at what we have achieved in that timeframe is nothing short of exceptional. Over the last two years, we have grown 73%. We've increased our customer base by 46%. We've doubled our market share in the UK and US, and we've significantly extended our target addressable market with our acquisitions. Two years ago, our target audience was 16 to 24 year olds. Now, we can dress everybody from 16 through to 50 plus, and the opportunity is huge with half a billion potential customers. That's half a billion potential customers today in our key markets versus 100 million two years ago. And we're investing for the future. Our UKDC network has capacity today to serve as 3 billion pounds of net sales. and current investments will take this in excess of £4 billion within the next two years. This will continue to grow and become more efficient as we reap the benefits from future automation at Sheffield and Daventry. Our supply chain has been significantly strengthened and we are investing heavily to provide a ...