Asos Profits up by £500m, thanks to Plus Size Clothing, Animal Prints

Asos Profits up by £500m, thanks to Plus Size Clothing, Animal Prints

The idea of animal prints gave Asos high levels of profits. This online retail store has been able to get a whooping profit of 500 million pounds in 2017. The company had sold 1.3 million animal printed apparels. The company had 2000 designs to offer to its customers. The sales come from the selling of both menswear and women wear. As per a recent report published by Asos, the company generated revenue of 2.4 billion pounds in 2018 till August. The company had expected a profit of 102 million pounds, but the profits were far more than this amount; the profits increased by 28%.

The share prices of the company have also increased by 15%, still the prices are lower than 10% than what was the price in 2017. Nick Beighton, who is the Chief Executive of Asos, informed that he is extremely happy with the performance of the brand. They are focused to make Asos the number one fashion brand for young shoppers of the world. The company revealed its secret of success- it has kept enough inventory (87000 products) every time so that buyers need not wait to get their chosen dress. The other step, which they took to reach this milestone is, it kept on adding 5000 products every week to its online shopping portal.

Besides animal prints, the company also sold large number of buttoned through dresses. The company had sold almost half million other fabrics and prints. Buyers also loved the variety of plus sized clothes for taller, petite, curved and wide people. The sale of maternity clothes was also on the rise. There was an increase in the sale of these different apparels by 37%. Asos has grown at a fast pace in last 3 years, almost more than 5th in each year.

Lawrence McAlpine

Lawrence is among the budding member of our team presenting his skills at simplifying the business-related concepts and terms in a simple manner. By gaining insights into several businesses from across the world, Lawrence puts forth the best of his knowledge and latest trends about a business in his articles in a skillful way. Apart from this, Lawrence also has a keen interest in politics and maintains a separate blog to put forth his viewpoints and opinions on several political affairs.

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