Asos sets out growth plans
Online fashion retailer Asos has set out how it will deliver on its profitability targets following the exit of its chief executive last month.
In a presentation at a capital markets day led by chief operating and chief financial officer Mat Dunn, the retailer revealed that it will expand the reach of its brands by continuing to improve its fashion credentials. It will also enhance its customer offer through better availability across partner brands, improved curation and an extended product choice in new categories such as sportswear and face and body
In addition, the retailer said it be more focused with regard to international expansion as it looks to accelerate growth in the EU and US by increasing the localisation of operations, experience and assortment.
During the next three to four years, Asos is aiming to achieve £7 billion in sales with an EBIT margin of at least 4%.
Dunn said: “Today we are setting out the detail behind our plan to significantly increase ASOS’ sales and profitability across the medium and longer-term. Asos has a clear focus on meeting the needs of our consumers, and we have created a winning offer underpinned by our best-in-class customer experience. Our plan will ensure that we fully leverage our strong, scalable global platform to deliver our ambitions.”