Oct 14, 2020

Asos adds 3m customers as profits soar amid Covid

Online fashion group Asos added three million customers in the past year, with annual profits jumping thanks to cost-cutting and buyers returning fewer items amid the pandemic. It now has 23.4 million customers, with more than seven million in the UK, where it makes the bulk of profits. Worldwide sales were up 19%, and pre-tax profits 329% at £142.1m, driven partly by fewer returned goods. Asos is one of the few retailers that have benefitted from lockdown. "Whilst life for our 20-something customers is unlikely to return to normal for quite some time, Asos will continue to engage, respond and adapt as one of the few truly global leaders in online fashion retail."

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