Fashion fans spent $3 billion with ASOS last financial year
On Tuesday, ASOS announced its sales for the last financial year ending August 2017 were over AUD$3 billion (GBP£1.8 billion). Now that's a lot of cash.
This figure is apparently up 34% on the previous sales figure according to Business of Fashion, which shows that the fashion crowd can't seem to get enough of ASOS.
In addition, the active customer base rose by 24%, which now puts ASOS's active customers at 15.4 million – now that's a lot of customers! As a result, the British ecommerce giant increased its growth projection for the 2018 financial year to 25-30%, which seems insane but if anyone can do it, it's ASOS.
Despite a weak pound and looming Brexit, ASOS is booming, which in part is thanks to its focus on international markets. The company announced that it will spend US$40 million on expanding its operations in the United States and will open a new factory in the country. The new fulfilment centre will be based in Union City, just outside Atlanta, and will be fully operational by the end of next year. ASOS currently sends 75% of its orders to the United States from the UK, and the new centre will allow for nearly 100% of orders to be sent from within America.
ASOS's successes can also be put down to its customer-centric services, which seem very in tune with the needs of millennials. The brand introduced free returns on Australian orders this year, a move that that was met with very positive customer reviews.
In addition, ASOS rebranded its beauty section to a more body-positive name, "Face + Body". This move came at the same time that the company also launched its own branded and totally affordable beauty line called ASOS Make Up. You can shop ASOS's new beauty line and the rest of the store on the Australian ASOS site here.
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