Asos, an online fashion retailer, has launched the `Asos Marketplace' initiative. This is a new feature that will allow smaller, independent designers to sell their products on its website. It hopes that this move will improve its sales and increase traffic to its site.
Another of the company's features, Fashion Finder, allows customers to search for brands that the company normally does not stock. This feature, as well as a quick expansion in overseas markets, are also intended to boost Asos' performance.
Asos reported a 59% increase in pre-tax profits for the six months leading up to September 30, totaling out to £7 million. It also reported a 50% increase in retail sales, which hit £131 million. Within the UK alone, retail sales were up by 26% to £82 million. International retail sales now account for 37% of total retail sales, having increased by 25% to £49 million.
Since the end of the period, Asos has launched French and German websites. In September it launched a US website. It has announced plans to continue building more country-specific websites, and at a faster pace.
In addition to all this, Asos is now mobile-equipped, and has Blackberry and iPhone compatibility.
The company's Chief Executive, Nick Robertson, reported a positive outlook, and that full-year results are expected to be in line with market expectations.
"We have maintained our programme of investment, specifically around resource, logistics and our technical capabilities."