Asos opens market place in drive for more growth

Online fashion retailer ASOS today said it hoped a new feature allowing smaller, independent designers to sell through its website will help it build on a strong run of sales.

The company said the “ASOS Marketplace” initiative – allowing small boutiques to sell their fashion products to ASOS customers – should boost traffic to its site and drive further sales when it is launched before Christmas.

It said another new feature – Fashion Finder – which allows customers to search for brands the company does not ordinarily sell, and a more rapid expansion in overseas markets, will also boost performance.

The company posted a 59% surge in pre-tax profits to £7m (€8.1m) in the six months to September 30, with a 50% rise in retail sales to £131m (€151m), within which UK retail sales were up 26% to £82m (€94.9m).