// Asos hunts for new warehouse to reduce delivery times
// Finance boss Mathew Dunn said this would allow Asos to reach over £6bn in capacity by end of 2023
Asos is reportedly planning for a fifth warehouse in order to cut delivery times for customers.
Finance chief Mathew Dunn said the initiative would allow Asos to reach over £6 billion in capacity by the end of 2023.
Asos is hunting for a new warehouse in continental Europe as it seeks to capitalise on the internet boom in the wake of Covid-19.
The online fashion retailer told investors this month that it was in the “early planning stages” of its fifth fulfilment centre, which will most likely be located on the Continent, The Telegraph reported.
Asos already has depots in the UK, Germany and the US, with its warehouse in Lichfield expected to open next year.
It is working on balancing its sea, air and road freight due to increased costs caused by disruption from the pandemic on global supply chains.
To manage the increased lead time from the UK to Europe due to Brexit, the company is also using additional ports for entry into the EU to reduce custom waiting times. The aim is to return lead times to four days from eight currently.
Asos said the HGV driver shortage in the UK is not impacting day-to-day business.
More than two thirds of customers can get their orders the next day. Asos also offers same-day delivery in London as well as click-and-collect services across the globe.
In February, it bought the Topshop, Topman, Miss Selfridge and HIIT brands, but not the stores, from the collapsed Arcadia Group for £330 million.