Asos continues international expansion
After launching in Italy, Spain and Australia this year, the British online fashion retailer now also wants to penetrate the Russian and Chinese markets.
To do so, Asos has decided to develop its current platform so that it can handle Russian and Chinese language character sets, which will take about 12 months longer than creating individual platforms for different countries. The e-tailer has every reason to be optimistic, seen as its half-year results showed a revenue rise of 56% to 217 million pounds.
Retail sales were up 60% reaching 211 million, with the remaining revenue made mainly from the advertising on the website. UK sales were only up by 8%, while international sales jumped 150 percent to 122 million pounds! After breaking into the international market in 2010, Asos is now present in 7 different countries. Sales outside of the UK currently account for 58% of the total, compared to 38% one year ago.
This way, Asos continues to make good progress towards its ambition to reach 1 billion pounds in sales by 2015.
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