Asos.com sails through recession with over 100% growth

Online fashion retailer ASOS is sailing through the recession with sales up 104% in the 12 months to March 31.

Online fashion retailer ASOS is sailing through the recession with sales up 104% in the 12 months to March 31.

The clothing website has defied the downturn in its pre-close trading statement. Sales grew to £165m and the company is predicting another year of strong growth. It expects its profit to be slightly ahead of market expectations.

Chief executive Nick Robertson said younger fashion is proving more resilient to the recession.

He added, "Internet shopping continues to gain in popularity and our international sales are being bolstered by the weak pound." International sales for the four weeks to April 24th were up 173% year on year.

The company is currently testing ASOS Life, its own community platform, and will launch it next month.

Robertson said, "We remain committed to becoming the market leader in online fashion in the UK and will continue to invest in the business accordingly. Whilst we are being more conservative in our planning for 2009/10, we believe the outlook is still very positive, and we look forward to another year of strong growth."

Simon Hanson, product management director at business systems provider Prologic, said the reason for ASOS's success was partly down to its constantly updated stock.

He said, "It has built a website that is enjoyable to browse and is constantly refreshed with new content. Whilst the majority of websites follow accepted guidelines to streamline the user experience, minimise clicks and deliver a fast, utilitarian service, these successful fashion sites have learned the value of sending their customers material that is part magazine and part catalogue."

The company's preliminary results will be released on June 29th.

ends

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