Fashion Forward – Asos Has Ambitions For Big Expansion
Nick Beighton may be a chartered accountant but his typical work attire is more smart casual than beancounters’ suit. Which is highly appropriate since he is the chief executive of online fashion juggernaut Asos, which specialises in supplying the latest trends at the click of a mouse or tap on a phone screen. Despite being listed on the London stock exchange’s junior market, Aim, Asos is valued more highly than the likes of Marks & Spencer as well as supermarket groups Sainsbury’s and Morrisons. It seems to have no desire to jump up to a full listing, with all the costs and management time that involves. But its plans elsewhere are ambitious, with a target of 25-30% revenue growth this year. Part of this will come from expanding rapidly, both in the UK and overseas, with total investment this year expected to reach £200m. Read more at The Guardian.