The 437,000 sq ft, AEW and Allianz Real Estate joint venture warehouse at Fradley Park, Lichfield, is set to open within 12 months.
In a statement, Asos said the site would be fully operational by 2023.
The business secretary said the firm was a “great British success story”.
“This job-creating investment in Lichfield is exactly the type of long-term commitment we need from businesses as we build back better from the pandemic,” Alok Sharma added.
The company in October reported it had seen its annual profits more than quadruple thanks to cost-cutting action and as customers returned fewer items amid the pandemic.
Asos chief executive officer Nick Beighton said: “This significant investment in infrastructure and large-scale job creation is a reflection of the confidence Asos has in its future and the quality of the skills and talent available in this well-placed location.”