A Tale of two Companies (BOO / UPGS)

Those that believed Dickensian mills were a thing of of the past should take a look at the following photos:

Google StreetView
Workers at the Fazia fashion factory continue to work despite the newly reimposed lockdown

But these two workplaces could not be more different.

The first is the distribution centre of Ultimate Products in Oldham, head quartered in a very similar building in the same Greater Manchester town where they employ highly skilled designers, mathematicians and salespeople, run an extensive graduate development programme and a long-running significant programme of community support.

The second is a clothing factory in Leicester where reportedly 75-80% of production is for boohoo by often undereducated and underpaid workers with little opportunities in society.

The individual style of those involved also couldn’t be more different, though I’ll leave determining who pertains to which company as an exercise to the reader.

Pretty Little Thing's millionaire owner Umar Kamani has split from ...Ultimate Products buys IP of collapsed company

Both companies have been performing well through the lockdown, UPGS by supplying homewares through retailers such as B&M Bargains and online, while boohoo have been selling disposable clothing to vacuous teens to brighten up their social media feeds. Both companies issued statements today (boohoo, UPGS). But shareholders of UPGS quite reasonably have Great Expectations whereas boohoo may be fearing Hard Times.

(Disclosure: Short Boohoo, Long UPGS)

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