ASOS has bought Topshop, Topman, Miss Selfridge and HIIT and will move fast to integrate them into its set-up. It said it's an attractive opportunity and they saw fast sales growth on its platform in the latest period.
Asos concluded a strong year with a four-month autumn and festive period that showed just how strong a business it is. Sales soared not just in the UK but globally and it expects higher profit as a result.
Online retailers have boomed during the pandemic and that means warehouse expansion has been significant. The latest name to announce new capacity is Asos that plans to invest £90m in radically expanding its UK space.
The Asos final results report Wednesday was another confirmation of just how important pureplay e-tailers have been in the unusual circumstances of 2020. As store-based rivals struggled, its sales and profits soared.
The company has named Patrik Silén its Chief Strategy Officer, reporting to CEO Nick Beighton, the appointment being the third in a series of new hires “designed to strengthen the senior management team”.