Asos bucks gloomy retail trend again
The allure of black high-shine leggings, popularised by stars such as Kate Moss, has helped online fashion retailer Asos buck
the gloomy economic trend yet again.
Leggings were Asos's top sellers over the Christmas trading period, contributing to a 118% year-on-year increase in sales for
the nine weeks to 16 January and enabling the firm to say it expects its profits for the year to end March to be "in line"
with expectations.
"We are the two things that are faring better at the moment: the internet and younger fashion," explained chief executive
Nick Robertson. "We tick both the boxes."
Over the 42 weeks to 16 January the company saw sales rise 108% as it used a number of promotions including free delivery
weekends to attract more customers. By last week Asos had 1.2 million active users, people who have bought something from the
site in the past six months, up 112% on a year ago.
Roughly half its customers are under 25 and this age-group, which does not tend to be struggling with mortgage repayments or
other domestic bills, is still hunting for fashion bargains.
Asos, previously known as As Seen on Screen, has experienced phenomenal growth since its launch in the summer of 2000 as more
people turn to the internet to buy their clothes. An estimated 5% of fashion is sold online and experts predict that will
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