
Backed by impressive half-year trading figures and new £500 million financing, online fashion giant Asos said Friday it’s set for major international growth.
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Backed by impressive half-year trading figures and new £500 million financing, online fashion giant Asos said Friday it’s set for major international growth.
ASOS has bought Topshop, Topman, Miss Selfridge and HIIT and will move fast to integrate them into its set-up. It said it's an attractive opportunity and they saw fast sales growth on its platform in the latest period.
Asos concluded a strong year with a four-month autumn and festive period that showed just how strong a business it is. Sales soared not just in the UK but globally and it expects higher profit as a result.
Online retailers have boomed during the pandemic and that means warehouse expansion has been significant. The latest name to announce new capacity is Asos that plans to invest £90m in radically expanding its UK space.
Digital fashion giant Asos has been busy on two fronts, announcing on Thursday a major new executive appointment and a partnership to launch a new international payments system.
The Asos final results report Wednesday was another confirmation of just how important pureplay e-tailers have been in the unusual circumstances of 2020. As store-based rivals struggled, its sales and profits soared.
The CEO of online fashion retailer Asos has warned it is considering dropping a Leicester supplier after it was found to be in breach of its ethical trading standards.
Asos sales rose globally during lockdown even though the UK dipped slightly. It's upbeat on profits and cash flow and is even planning to repay government furlough money as it "does the right thing".
The news continued to pour out of Asos on Wednesday with the firm announcing the results of its share placing and the hundreds of millions of pounds it generated.
The company has named Patrik Silén its Chief Strategy Officer, reporting to CEO Nick Beighton, the appointment being the third in a series of new hires “designed to strengthen the senior management team”.