Asos news and archive

Asos reportedly hit by second lawsuit from Assos of Switzerland

Cycling brand Assos of Switzerland has launched what is now its second legal battle against British e-commerce giant Asos. According to City AM, the Swiss company has filed a breach of contract claim against Asos to the English High Court, to which Asos Plc, Asos.com and Asos France were named defendants. The exact details of the lawsuit are...

Business

Asos predicts 60 percent jump in 2025 profit

In FY25, driven by a significant increase in the full-price sales mix, Asos expects 300 bps increase in gross margin to over 46 percent and adjusted EBITDA to increase by at least 60 percent to 130 million pounds to 150 million pounds. In the mid-term, the company continues to expect revenue growth, gross margin towards 50 percent and an...

Business

Asos and Hirestreet partner on subscription rental service

In an expansion of an existing relationship, Asos and Hirestreet are coming together on a new collaboration that will involve the introduction of a subscription rental service. The duo have worked together on a rental offer before, with Hirestreet having previously offered up 180 womenswear Asos pieces as part of its rental service in early...

Fashion

Asos launches Reclaimed Vintage x Outer Banks collection

Online fashion retailer Asos has launched the latest collection in collaboration with Netflix to celebrate the fourth season of its ‘Outer Banks’ series. The ‘Reclaimed Vintage x Outer Banks’ collection features seven mostly unisex pieces, including T-shirts and hoodies, inspired directly by the wardrobe of the characters in the show. The...

Business

Asos completes Topshop and Topman sale

British e-tailer Asos has announced the completion of its sale of the Topshop and Topman brands to Heartland A/S as part of a joint venture with the holding company. The Danish firm, via its subsidiary Aktieselskabet AF 24.8.2024, now holds a 75 percent interest in the joint venture, with Asos Holdings Limited retaining the remaining 25 percent....

Fashion

Asos expands relationship with Mango with Mango Man launch

Online fashion retailer Asos has expanded its partnership with Spanish brand Mango by adding Mango Man to its offering. In a statement, Asos said its customers can shop a selection of Mango Man products from this month, with the range expanding to 370 options through the autumn/winter season. Products will include knitwear, tailoring and...

Business

'Asos to cut hundreds of jobs at its headquarters'

British online retailer Asos is planning to cut hundreds of jobs at its headquarters in Camden, London. Several media outlets, including the English newspaper The Mirror, report that the company wants to 'simplify' the organization in order to become profitable again. Asos has been struggling financially for some time now, with losses rising to...

Retail

Asos expands H&M Group partnership with addition of Arket

Asos is building on its relationship with the H&M Group through the exclusive launch of its Nordic design brand Arket. The label’s autumn/winter 2024 collection is now available via the British e-tailer, expanding its reach whilst growing the offering of Asos itself. In a release, Asos said the launch reflected “a shared commitment to providing...

BusinessFeatured

Asos sells majority stake in Topshop and Topman

Online retailer Asos has sold a majority stake in Topshop and Topman in a new joint venture deal with Heartland, the holding company representing the interests of the Holch Povlsen family and their family business Bestseller. The joint venture will grant Asos “certain design and distribution rights” for the Topshop and Topman brands in return...

Business

Could Asos be scrapping free returns?

An email sent out to Asos customers last week has people wondering if the British e-tailer will be joining its slew of fast fashion peers in scrapping free returns in the UK. Online speculation arose upon the release of an email to the retailer’s “regular” customers, which read that it would be updating its “Fair Use Policy in relation to...

Business

Asos shareholders approve exec pay plan and incentive scheme

Following a general meeting, shareholders of British e-tailer Asos have approved the company’s new executive pay plan, which would apply amendments to its long-term incentive plan. Proposed earlier in August as part of its Remuneration Policy, the newly dubbed ‘Value Creation Plan’ (VCP) intends to make changes to the current dilution limits...

Business

Asos teams up with Microsoft to expand AI capabilities

Online fashion retailer Asos has signed a new three-year partnership deal with technology giant Microsoft to support “operational excellence” through artificial intelligence (AI). Asos said its agreement with Microsoft would drive forward “operational excellence, efficiency, and data-driven decision-making,” and would expand its use of Microsoft...