Asos to target global market
- Published: 04 July 2008 09:58
- Author: Emily Seares
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- Last Updated: 04 July 2008 09:58
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Online giant Asos is planning to roll out its fast-fashion etail concept to overseas markets, after it posted record sales and profits at its full-year results.
The etailer's chief executive Nick Robertson said that about 10% of sales already came from international customers but it had yet to actively market its brand overseas.
He added that he intended to launch separate websites for each new international market to capitalise on overseas interest.
Robertson said: "We have an international strategy. We are building an international platform, which will involve a significant rebuilding of the technology. It will take between 18 months and two years."
In the year to March 31, Asos's pre-tax profits rose 117% to £7.3 million on a sales increase of 90% to £81m, which included a hike in advertising revenue generated by the Asos site and its glossy monthly magazine.
Direct retail sales from the site rose 90% to £71.6m for the period. Trade has continued to be strong since the year end, with a rise of 95% for the 13 weeks ended June 27.
Robertson said: "While the macroeconomic conditions appear to be deteriorating, I believe we have and will continue to benefit from the significant migration to online shopping, especially among our core customer base."
In May, the site had a record 3.4 million unique visitors, a 60% increase year on year, he added.
