Online retailer ASOS (LON:ASC) has become the latest business to announce further investment in Britain since the EU referendum in June.
The UK fashion retailer plans to increase employment in the London headquarters by 60 percent, adding a total of 1,500 jobs in marketing, technology, content and retail.
ASOS announced the £40 million expansion, along plans to take an additional 40,000 sq ft from the building in Camden to house the new employees.
Whilst the chief executive, Nick Beighton, says this move has “nothing to do with Brexit” and that plans were “put together pre-June 23.”, the news comes following news that Google (NASDAQ:GOOAV) and Facebook (NASDAQ:FB) also intend to invest further in Britain.
This is contrary to the financial sector, where banks including Citi (NYSE:C) and Goldman Sachs (NYSE:GS) have voiced concerns over the UK’s decision to leave the EU and plan to move jobs abroad.
“ASOS is a mixture of fashion, technology, creative and design capability all in one place. There are very few places where you get that hotspot of those talents in one place so London’s very good for that,” said Beighton on why ASOS intends to remain in the London, regardless of the Brexit vote.
“Our people are what make ASOS special. We are creating a workspace that fosters creativity, where they can enjoy what they do. Greater London House is such an important part of the company’s history, as well as Camden’s, so I’m thrilled that we get to stay in our home, while building a workplace for the future.” added Beighton in a statement.
ASOS is one of the few companies that have benefited from the devaluation of the pound since the EU referendum as more than half of its sales are made outside Britain.
ASOS have recently come under fire over the working practices in their warehouse, following news that Sports Direct were paying employees less than minimum wage.