Despite the pandemic, ASOS is quickly becoming a fast-fashion favorite for online shoppers across the globe. In fact, the British online retailer is doing so well that the company offered to repay the £1.8 million (roughly $2,326,046 USD) it borrowed from the government’s furlough scheme following a “better than initially-expected full-year performance.”
“This has been a tough time for all businesses, but we have remained focused on doing the right thing for our people and our customers and making sure that we emerge from the current crisis as a stronger and better organization,” ASOS chief executive Nick Beighton said in a statement. “While we remain cautious about the consumer impact of Covid-19 looking forward, we are on track to deliver strong year-on-year profit growth and to return to positive free cash flow for the full-year.”
Analysts name ASOS “pandemic winner.”
According to Julie Palmer, a partner at Begbies Traynor, ASOS is a “pandemic winner.” And, honestly, why wouldn’t it be? IMHO, ASOS did everything it could to transform a shit situation into something amazing.
Instead of freaking out, the company used our “new normal” to its advantage by adding (more) casualwear and loungewear options to its site. The company also “softened” its promotional calendar in an effort to satisfy customer demand.
“We took a number of customer-facing decisions to avoid stimulating demand we couldn’t effectively service to ensure we didn’t disappoint customers on our delivery promise and also to ensure no one took undue risk across our supply chain,” ASOS CFO Matthew Dunn said in a statement.
Clearly, ASOS is doing something right.
In just three months, the company grew its fan base to 23 million customers. What’s more? The company received a whopping 9 million likes, comments, and shares on social media in May—that’s a 90 percent increase when compared to previous months.
15 ASOS items to add to your shopping cart.
To celebrate ASOS’ “win,” I took the liberty of compiling my favorite ASOS pieces. From leather pants to comfy joggers to peplum jumpsuits, there’s a little bit of something for everyone in this eclectic list. Check em’ out below: