The Fashionable Asos Now Gears up for Bigger Expansion
The well-known fashion brand, Asos, is now stepping ahead to expand further into make-up and other products and foresees a greater reach to its customers. The brand is well known and popular as a one-stop destination for latest fashion trends at fingertips enabling shopping from mobile app or desktop.
Though the company is listed on the junior stock exchange in London, it enjoys a popularity similar to Marks &Spencers or the supermarket giant Sainsbury’s and Morrisons. Moreover, the company also does not aim at listing to full considering the huge investment and time required which it can put on other business fronts. Now, it plans to put all its energy and efforts to grow its revenue up to 30% this year.
With an expected investment of 200 pounds, the company looks forward to expanding in the local market as well as the overseas market. Earlier, there had been some news of warehouse fire and poor working condition, but now the company is renovating its sites as well as its London headquarter. The new hub for Europe is expected to be built in Germany and the company plans to have its full-fledged warehouse in the US by the next year. An expected amount of 30m pound is to be infused in the business for its expansion in the US with a plan to build the warehouse in Atlanta. Earlier, the products were shipped from the UK which took quite a good deal of time and the establishment of Atlanta warehouse is expected to give a big boost to the company.
Asos is also moving to the new product line that includes make-up and activewear while having a prime focus on fashion. The company also allows try-before-you-buy to get closer to its customers meeting their requirements the way they want. Same-day delivery is also being facilitated along with mass advertising campaigns. Its beauty product launch is being advertised extensively on billboards and there are many marketing campaigns going on for activewear products. The company may also opt for TV ads.
Despite all these enthusiasms and strategies, one should be cautious of the intensifying industry competition, especially considering the fashion ambitions of Amazon.