Asos to launch discount e-store |
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| Monday, 16 June 2008 | |
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Online retailer Asos is aiming to double turnover within three years with the launch of an online discount operation in early autumn.
According to the Sunday Times, the e-tailer will sell brand names such as Ted Baker, Ralph Lauren, Religion and Diesel at a 75% discount, aiming to get a significant slice of the £2.7 billion market currently dominated by TK Maxx. The venture, Asos Red, which will be a subsidiary of the main Asos site, has already poached two clothing buyers from TK Maxx and is in negotiations with a number of top-name brands. Asos product and trading director Rob Bready said the decision to enter the sector was based in part on a response to the tough retail climate on the high street. He said: “Times are tough out there, but there are pockets which are still going extremely well.” The site is expected to launch with a “couple of hundred” products and build up to 300 brands. |
