Asos is among the United Kingdom’s largest online-only clothing retail stores. And business is booming. As it turns out Asos is fast making its fashionable presence felt across overseas markets as well. The online fashion retailer recently announced that its sales in the overseas markets has spurred past its UK sales figures. A look at the sales figures reveals that Asos is rising quickly in the international fashion retailing market.
In the first quarter of 2011, Asos’ UK sales rose by 24 percent to £44.9 million. Compared to the same period last year, the company’s international sales rose by a whopping 161 percent to £48.4 million. The figures should be good news for fashion and retail management firms given the sharp fall in retail sales in March. The British Retail Consortium even termed this the worst fall since 1996.
Asos does not seem to have been affect by the drop in sales however. Last year, its UK sales rose by a steady 24 percent and its international sales by a good 144 percent. It is reason enough for optimism and Asos is already hopeful of seeing profits “towards the top end of expectations”.
Other fashion retailing firms may be exercising caution, but Asos appears confident about rising sales. Chief executive Nick Robertson of Asos admitted that the company was excited about its prospects in the new financial year. Even outsiders are impressed. Nick Bubb, a retail analyst from Arden Partners termed the company’s performance as “mind-blowing”. He added that the company’s expansion in the global market would likely “continue to attract a big fan club”.