International sales now more than a third of Asos’ business
More than a third of fashion website Asos’ sales now come from overseas, the company revealed as it reported its latest results.
Asos,which marked its tenth anniversary last month, said 37% of total retail sales were now international after more than doubling in value in the last year. Overseas sales rose by 111% in the first quarter of the company’s financial year, compared to the same time last year. Meanwhile UK sales were up by 32%, taking the overall sales rise to 54% in the 12 weeks to June 30.
Chief executive Nick Robertson said: “I am pleased to report our strong sales momentum continued through the first quarter. Our retail sales are up 54% over the period, despite the impact of an extra week of sale activity in the comparable period last year.
“UK sales continue to perform strongly, up 32% and international sales, which now represent 37% of the total, remain robust at 111%.
“It is too early in the financial year to assume that these levels of sales will continue for the remaining three quarters; however we remain confident that this year will be another year of excellent progress.”
Robertson also raised £14.92m yesterday by selling 1.6m shares in the company, in which he continues to hold a 10.3% stake.
Asos.com sells more than 36,000 product lines and claims number one spot as the UK’s largest independent online fashion retailer. It sees more than 8m unique visitors a month.
Additional comments powered byBackType