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This successful – and occasionally mocked – online fashion chain is branching out into make-up and maybe more

by on April 8, 2018 in Digital Marketing, Ecommerce, Lead Article, News you can use, Nuggets, Online Advertising, Retail, Retail News

This successful – and occasionally mocked – online fashion chain is branching out into make-up and maybe more

Nick Beighton may be a chartered accountant but his typical work attire is more smart casual than beancounters’ suit.

Which is highly appropriate since he is the chief executive of online fashion juggernaut Asos, which specialises in supplying the latest trends at the click of a mouse or tap on a phone screen.

Despite being listed on the London stock exchange’s junior market, Aim, Asos is valued more highly than the likes of Marks & Spencer as well as supermarket groups Sainsbury’s and Morrisons. It seems to have no desire to jump up to a full listing, with all the costs and management time that involves. But its plans elsewhere are ambitious, with a target of 25-30% revenue growth this year.

Part of this will come from expanding rapidly, both in the UK and overseas, with total investment this year expected to reach £200m.

It is also moving into new product areas, including make-up and so-called activewear, and analysts at City broker Stifel believe this could just be the start: “Asos maintains a fashion focus, although it recently expanded into beauty. What could be next? We speculate homeware, supported by the 3D printing technology revolution. From there, the sky is the limit.”

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