The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
British online fashion retailer ASOS is “highly likely” to acquire more brands, its boss said on Thursday.
In February, ASOS bought the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of Philip Green’s collapsed Arcadia group for £265 million ($365 million) aiming to accelerate its multi-brand strategy.
“Asos has got ambitious plans,” CEO Nick Beighton told Reuters after the group published record first half results.
“We’re building our business to be a substantially greater business with a 10-year view...It’s highly likely to achieve those goals we would pick-up some other brands or acquisitions along the way,” he said.
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But Beighton said the bar for deals was high.
“It’s got to be fashion, it’s got to be something our 20-somethings care about, it’s got to be a strong return for our (share) holders.”
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.