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Clipper Logistics expands European footprint with new e-commerce operation

The firm said a new contract will see it provide pan-European e-fulfilment and returns management services for luxury fashion platform Farfetch for an initial term of five years

Clipper Logistics PLC - Clipper Logistics expands European footprint with new e-commerce operation

Clipper Logistics PLC (LON:CLG) said it has signed an agreement with Farfetch, a global platform that sells products from 1,300 luxury fashion boutiques and brands, to provide pan-European e-fulfilment and returns management services from a new facility in Venray in the Netherlands.

The firm said the new contract will see it support all of Farfetch’s European activities and will begin in April for an initial term of five years. Clipper expects to employ 600 personnel at the site, which will have a stockholding capacity of over 2mln units of high-end apparel.

READ: Clipper Logistics founder Steve Parkin reduces stake to boost liquidity in company's shares

Clipper said the deal represents a “significant extension” of its trading activities in mainland Europe, which currently consists of eight distribution centres in Germany and Poland, and will represent organic growth of nearly 30% to the operation when fully functional, as well as its first site in the Benelux region.

"Farfetch is an outstanding company with whom we are proud to have a growing relationship. This new contract facilitates our mutual growth aspirations and represents a significant extension of Clipper's European footprint, one of our key strategic growth areas", Clipper executive chairman Steve Parkin said in a statement.

Quick facts: Clipper Logistics PLC

Price: 550 GBX

LSE:CLG
Market: LSE
Market Cap: £5.63 m
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