e-commerce star Asos reveals blueprint for growth
Online fashion retailer ASOS set out a blueprint for growth yesterday, showing just how the online channel can be harnessed to reach new markets, as it announced its half year results.
Profits over the first half of the year to 30th September grew by 59% to £7m, on sales growth of 50 per cent (to £131m), within which UK retail sales were up 26 per cent to £82m. International retail sales jumped from £22.3m to £49m the period, and now account for 37 per cent of total retail sales, up from 25 per cent for the same period last year.
Taking a leaf out of Amazon's book, ASOS will shortly launch its 'MarketPlace' which will allow small boutiques to sell through its website. ASOS anticipate this should boost sales ahead of Christmas.
The firm said another new feature – Fashion Finder – which allows customers to search for brands the company does not ordinarily sell, and a more rapid expansion in overseas markets, will also boost performance.
ASOS has launched French and German language websites since the end of the period, following a US site launch in September. The firm said it now planned to launch further country-specific websites at a faster pace. It has also launched a mobile site for Blackberrys and iPhones.
The company which was set up in 2000, and offers 40,000 product lines aimed at 16 to 34-year-olds, now ships to 195 countries and employs 1,161 staff.
Full story at Northern Echo