“British retailer ASOS adds about 5000 new styles to its product offering weekly, a strategy CEO Nick Beighton believes attracts younger Millennial shoppers. And we can’t argue with that: the brand’s active customer base has risen 24% over the past year to 15.4 million, and retail sales rose 34%, with the momentum remaining steady.
The company is also growing quickly internationally, as sales rose by 46% in the U.S. and 45% in the E.U. ”
LONDON, Oct 17 (Reuters) – British online retailer ASOS raised its growth forecast on Tuesday, saying its combination of new products, competitive prices and improved customer services continues to attract twentysomething shoppers to its site.
Established in 2000, ASOS has become Britain’s most valuable online fashion retailer by targeting young consumers with a mix of 85,000 own-label and branded products, adding about 5,000 new styles a week. The business model is backed up by use of social media and investment in technology and ever-faster delivery. …[read full article at glossy.co]