Boom for online fashion firm ASOS
ASOS targets 16 to 34 year olds with cut-price versions of celebrity outfits
Online fashion retailer ASOS has reported strong growth in both sales and profits, despite the recent economic slowdown.
The company said pre-tax profits during the six months to October rose 68% to £4.1m ($6.07m).
ASOS, formerly known as As Seen on Screen, sells cut-price versions of designs worn by celebrities.
The firm, which saw sales jump 107% to £67.5m in the period, said it was cautiously optimistic about the future.
ASOS also said its sales were up 104% for the seven weeks to 16 November compared with a year ago.
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A report explaining:
a. possible reasons for the success of ASOS
b. who the main competitors are
c. strengths/weaknesses of their products
d. what steps can they take to ensure continued success?