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Online fashion retailer ASOS posts surge in profits
30
Nov '13
Driven by robust sales from the UK and overseas markets, leading British online fashion retailer ASOS Plc. witnessed an impressive growth in profits in the full-year ended August 2013.
 
The company’s profit before tax and exceptional items rose by 23 per cent to 54.6 million pounds in the 12 months ended 31 August 2013 from 44.4 million pounds in the previous year.
 
With US First Lady Michelle Obama and stunning British actress Sienna Millar among its celebrity fans, ASOS witnessed a 39 per cent jump in group revenues to 769 million pounds in the 12 months ended 31 August 2013.
 
ASOS, which is focussed for offering fashion for men and women in their 20s, posted a 40 per cent rise in retail sales to 753 million pounds in the year ended August 31, 2013.
 
Retail sales from UK rose by an impressive 34 per cent to 276 million pounds while that from the international market climbed 44 per cent to 477 million pounds. Sales from the international markets accounted for 63 per cent of the company’s sales.
 
During the year, the company added new product categories in the womenswear and menswear segment, which accounted for 52.3 per cent of the company’s total sales. The new product additions included men’s underwear and women’s ‘Reclaimed Vintage’ and launch of many exclusive collaborations including Markus Lupfer for ASOS Black. 
 
With over 7 million active customers, ASOS is well placed to achieve its goal of being the world’s number one fashion destination for 20-somethings.
 
The company has stepped up investment in people, technology, logistics and marketing as it eyes the 1 billion pounds sales mark.
 

Fibre2fashion News Desk - India

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