ASOS ONLINE FASHION
Friday July 3rd, 2009
ASOS ONLINE FASHION BEATS THE RECESSION
When it comes to making profit, there arenít too many success stories around at the moment. But online fashion retailer ASOS seems to be bucking the trend and going from strength to strength. Company CEO Nick Robertson says they have doubled sales and turnover again in the last financial year. And ASOS has done just that since it began selling catwalk copies online in 2000 despite its Hertfordshire warehouse being virtually flattened by the Buncefield oil depot explosion in 2005.
Figures show a pre-tax profit increase of 93% at £14.1mil and online traffic is up 60% from 12 months ago. With around 21,000 product lines now available (only 8,000 a year ago) things seem set to continue improving.
According to retail analyst Maureen Hinton, 'It really is the amount of new product on the site. It's almost become a department store online, which reduces much of the risk to the company,'
Itsí good to hear good news.
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