Asos to launch Marketplace and Fashion Finder as profits surge
Asos profits surge
Online giant Asos revealed pre-tax profits jumped 59% to £7 million in the six months to September 30 this morning and it is on track to achieve its target of becoming a global fashion destination.
Asos chief executive Nick Robertson told Drapers: “Asos is embarking on a new journey, from online store (albeit a big one) to a global fashion destination. The purpose is to drive incremental traffic and therefore extra sales.”
He said that Marketplace, which will enable boutiques and designers to showcase and sell their products, and Fashion Finder, to show “great fashion from brands which we might not necessarily sell,” will both be key.
Asos’s sales increased 50% in the first half to £131.4 million. UK sales rose 26% and international sales surged 120%.
FashionBite xx
Cant wait for the launch of Marketplace !! This Fashion Democracy will enable small brands such as AMvintage to reach a global market .
Apparently Fashion Finder is not all that good for the actual retailers according to this story on Sky News, “ASOS Fashion Finder A Ponzi Scheme For Clothes Retailers”, check out the full story here;
http://bit.ly/gv3H0w
‘…let’s face it, every retailer is figthing for the same money. It’s not like ASOS is in business to help its compeititors. If free advertising for its competitors on its website sound too good to be true, it problably is. It would be as if Tesco started stacking their shelves with products from Sainsbury’s.’