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The ASOS Phenomenon

 

Posted At: 14 October 2010 10:00 AM
Related Categories: E-tailing

 

In June, ASOS chief executive Nick Robertson said the retailer aimed to reach turnover of £1bn within five years.  Lofty aspirations one might think when accounts filed with Companies House at the end of September show that target to be over 4 times what they achieved this year.

However, at FSP, one of the things we are good at is monitoring the financial health of retailers.  ASOS, we can see, are not just healthy, they are consistently very healthy.  Turnover in the year to 31/03/10 was 35% higher than the previous year and more than 24 times higher than back in 2004, whilst the BIS Guide has gone from Healthy to Very Strong

The amount of money to be spent is only finite – although purveyors of expensive credit would have you believe otherwise – so traditional high street retailers beware, with ASOS swallowing so much of your punters’ cash, very soon they may not even trouble themselves to visit your store.

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The opinions expressed herein are the personal opinion of the author and are not intended as statements of fact and do not represent the view of SnapShop or Pragma in any way.

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