ASOS Profit increase
Online fashion retailer ASOS has reported a surging increase in profits due to new style trends set by Kate Moss and Sienna Miller. According to reports, sales to the year end 31 March have risen by 82 per cent to £12.8m while underlying pre-tax profits rose 77 per cent to a record £1.1m.
Previously called “As seen on screen” ASOS have successfully found their niche by providing celebrity imitated clothing at an affordable price. Their current best sellers include Joss Stone’s hippy look , tailored city shorts worn by Kate Moss, and anything skimpy as worn by Paris Hilton.
Asos chief executive Nick Robertson said the biggest success story had been footwear, which already accounts for some 12 per cent of sales.
“Women like their shoes. We have mixed and matched the range and the current big sellers are wedges and Indian style sandals with beads and sequins on them,” he said.
The success of ASOS really highlights how strong an influence celebrities do have in the retail industry.
Author: Michele Obi
Michele is the Founder & Editor-in-Chief of My Fashion Life. In between editing, freelancing and spending most of her time on the internet, she also finds time to shop (too much) and obsess over shoes. She loves sushi and counts Matthew Williamson, John Galliano, Valentino and Hussein Chalayan as her favourite designers. Her biggest regret - never seeing Prince in concert!
