Asos “on track” for £1bn sales by 2015
Online fashion store Asos has posted a profit lift of 41% on the back of strong international growth and says it expects to achieve £1bn in sales by 2015.
Asos’ profit for the year to 31 March reached £28.6m. Revenue rose 52% year on year to £339.7m.
Sales outside the UK increased 142% in the period and accounted for 43% of Asos’ total income. The UK site increased sales by 25% to £184m.
Asos launched country-specific websites in the US, Germany and France in 2010 and plans to open sites in Australia, Spain and Italy this year.
The retailer says it continues to migrate from being a UK based shop into a “global fashion destination, by creating new ways to drive traffic and encourage customer engagement”.
During the period Asos launched new products including Marketplace, Fashion Finder, a transactional Facebook store and a mobile channel.
Marketing costs increased 54% year on year to £14.3m, to drive awareness both in the UK and internationally.
Asos took its ad sales in-house in January to focus on creating bigger integrated campaigns for a smaller number of high-profile brand partners.
