Belfast Telegraph

Sunday 20 April 2014

ASOS still in fashion with web customers

Online fashion retailer ASOS remained in vogue with shoppers and the City after reporting a better-than-expected sales jump of 24% in the UK.

The company, which has 5.4m customers in 160 countries, has banished fears that its home market is stagnating by refocusing marketing efforts on its core 20-something customer base and delivering more price cuts.

The group, which bases its products on outfits first worn by celebrities, dropped prices by around 3% on its own-brand lines from February, helping drive UK sales to £62m in the three months to November 30.

Overall revenues rose by 30% to £169.4m after it opened offices in the US, France and Germany and international business alone saw a 34% sales boost to £103.7m.