Online fashion emporium ASOS reports pre-tax profit of £21.2 million, helped by what it calls “improved momentum” within the fashion retail industry.
Summary: The Multi-channel shopping giant continues to grow as it is visited by millions of customers worldwide, and reports pre-tax profits up from £18m a year earlier.
Since their inception as AsSeenOnScreen in 2003, ASOS has continued to grow it’s brand year on year and has a enviable reputation as being THE online marketplace for fashionable young things worldwide. The brand describes itself as offering a ‘shopping experience where twenty-something fashion lovers can network, share ideas, create their own style and of course, shop”.
Having just posted an increase in pre-tax profits from the same period last year, the company seems to be proving that their ethos of selling good quality, unique fashion pieces is keeping them on top of their game.
Katherine Peacock, CEO of Model Agency (http://www.modelagency.uk.com/) based in Wandsworth, London believes that their success is based on their ability to provide unique, cutting edge trends at affordable prices. She says “as a model agency who operates on a global scale, and offers a wide variety of models of all shapes and sizes, we see trends changing faster than some fashion retailers do. ASOS have always managed to keep their finger on the pulse and stay edgy but affordable.”
“As a successful agency we do, of course, supply models to high end designer shows and photo-shoots ”, says Peacock “but the mainstay of the fashion world has needed to adapt to become much more accessible to the girl on the High Street. This is where ASOS is winning. Our younger models are definitely very aware of the brand and many of them choose to buy from them rather than the high-end designer stores they have access to on a daily basis. If the models are choosing your store, you know you are doing something right”.
From a business standpoint she concludes that “It is vital to us that fashion retailers don’t just survive when the economy suffers a dip, but that they strive and grow ever stronger. Fashion retailers need to market their brands and good marketing needs great models. In the end, their success, becomes our success. ASOS have got it just right”.
To learn more about Model Agency and the plus size models available, please visit http://www.modelagency.uk.com/
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