Founded in 2000, Asos has become one of the world’s best-known and most successful pureplay retailers by acting as a global fast-fashion destination for 20-somethings with a wide variety of content and localised experiences.
It delivers from fulfilment centres in the UK, US and Europe to almost every country in the world, selling around 90,000 product lines across nearly 900 brands, and it has a growing own-label offering, with about 50% of product exclusive to Asos. It has most recently delved into sportswear and skincare.
In early 2021 the etailer acquired Topshop, Topman, Miss Selfridge and athleisure brand HIIT out of administration following the collapse of Arcadia. The deal is an opportunity for Asos to apply its capabilities to drive its global growth and accelerate its brands strategy.
Its technology priorities in 2020 included new feature releases to its website – such as product reviews, domain consolidation to improve SEO, and extending currency and payment options as it pushes ahead with its global development programme.
Asos has experimented with geo-targeting, prospecting, retargeting, and new social media channels (TikTok). In FY2021 its active customer based grew 13% to 26.4m.
Asos Ventures is the corporate venture capital arm of the business, investing in strategic partnerships with promising fashion technology companies around the world.
Innovation rating: 4