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Online fashion retailer Asos reveals annual sales up 40% at £754 million

Booming retailer has office in Birmingham's Custard Factory

The Custard Factory
The Custard Factory

Fashion retailer ASOS, which opened a base in Digbeth earlier this year, has seen customer numbers grow to more than seven million amid surging sales that look set to beat annual profit expectations.

The brand saw total sales rise by 47 per cent to £208 million in its final quarter to the end of August.

It said the number of active customers had grown to 7.1 million customers, up from five million at the same time last year.

Chief executive Nick Robertson said it was “strong finish to the financial year”, with annual sales up 40 per cent to £754 million.

“We expect profit before tax for the year to be marginally above expectations,” he added.

UK retail sales for the latest quarter were up 49 per cent to £74 million, while international revenues climbed by 47 per cent to £134 million, including a 73 per cent increase in the European Union.

ASOS, which represents “As Seen on Screen”, was founded in 2000 to target young people by trying to emulate the styles of favourite celebrities.

It lists Michelle Obama among its fans and plans to launch a website to help its worldwide expansion into the lucrative Chinese market.

It is targeting £1 billion in sales by 2015.Earlier this year, it announced a tie-up with Primark, allowing the budget fashion chain to sell clothes on the internet for the first time.

 

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