Marks & Spencer (M&S) has agreed a deal to acquire a new 437,000 sq ft fully automated fashion distribution centre in Lichfield from ASOS for £67.5m.
M&S said the site, which will become operational in 2027, will help the company realise its long-term ambition of doubling the size of its online fashion business.
John Lyttle, M&S managing director for fashion, home and beauty, said: “As we transform M&S fashion, home and beauty, our ambition is to double online sales. To achieve this and serve our customers faster, more efficiently and with better availability, our 24/7 distribution network needs more capacity. We’ve always said that we’ll deliver our transformation with highly disciplined capital investment, always mindful of spending shareholder money wisely. This acquisition does just that, delivering tangible business benefits that move our transformation forward, at a much lower cost compared to a new build option.”
