Belfast Telegraph

Asos founder banks £15.3m through share sale

Nick Robertson co-founded Asos – which stands for As Seen On Screen – in 2000.

Nick Robertson has sold shares in Asos (PA)
Nick Robertson has sold shares in Asos (PA)

Asos founder Nick Robertson has cashed in £15.3 million from a share sale in the online clothing retailer.

Mr Robertson, who is a non-executive director and former chief executive of the firm, offloaded 410,000 shares at 3,722.5p each, according to a stock exchange filing.

He continues to hold 4.6 million shares, or a 5.5% stake, in Asos.

Shares in the firm took a hammering in December after the group issued a profit warning as slower sales and lower margins took their toll.

Despite a recovery since then, they are down 38% over the past 12 months and currently stand at 3,851p.

Two years ago, the fashion exec hit the headlines when he sold off £46 million worth of stock to help pay for a costly divorce settlement.

Back then, Mr Robertson sold 1.3 million shares, or 1.6%, to help pay his ex-wife £70 million following a High Court divorce battle.

The Asos man was ordered by a High Court judge to hand over about a third of his £220 million fortune to ex-wife Janine Robertson, who was pressing for £110 million.

Mr Robertson co-founded Asos – which stands for As Seen On Screen – in 2000.

The company was floated on London’s junior market in 2001 with its shares worth 20p. It is now valued at over £3 billion.

Mr Robertson oversaw the growth of the brand from a UK business to one with international operations in countries such as the United States, France and Australia.

He stepped down from the role of chief executive in 2015 – making way for Nick Beighton – but has remained a non-executive director at the business.

Press Association

Popular