Asos eyes ChinaMonday, 22 October 2012
Affordable online fashion retailer asos.com will this week unveil a surge in profits amid speculation
that it is poised to reveal plans for growth in the Far East.
Executives are believed to have held talks with possible partners to launch a website in China, which will form a crucial part of its growth plans. If successful, that would provide a boost as sales in Britain begin to slow.
Asos said in May that entry into China was ‘a question of when not if’.
Asos is the UK's largest online-only fashion and beauty store. Primarily aimed at 18–34 year old men and women, ASOS sells both branded fashion goods and its own range of clothes. Sales for the financial year ending 31 March 2011 were 339.7 million pounds. In May 2012, ASOS reported a jump in pre-tax profits from 15.7 million to 30.3 million pounds, with sales up 46 per cent at 495 million pounds.