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UK Online Retailer ASOS Will Enter The Chinese Market

2011/6/3 11:47:00 65

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Beijing time on June 2nd, according to foreign media reports, the British fashion apparel online retailer ASOS said it will enter the Chinese market.

Meanwhile, ASOS's earnings report showed that ASOS achieved pre tax profit of 28 million 600 thousand in the last fiscal year, an increase of 41% over the same period last year.

ASOS chief executive Nick Robertson (Nick Robertson) said on Thursday that ASOS has identified China as the fifth strategic market after Britain, the United States, France and Germany.

He said: "we will enter the Chinese market. This is only a matter of time.

We will enter China through our partners instead of entering the market independently.

This is a strategic move. We must plan for ten years. "

Robertson said he would not enter China through the launch of a Chinese website in 2011, but he said he would announce new news when he released the mid term financial results in October.

He said that the most likely partner for China to enter China is a Chinese company.

ASOS's target consumer groups are women aged 16 to 34, who follow the example of a famous designer.

Clothing products

And sell online at a low price.

In the last fiscal year ended March 31st, ASOS achieved pre tax profit of 28 million 600 thousand, up from 20 million 300 thousand in the previous fiscal year, which is also higher than the average 27 million 200 thousand expected by Thomson Reuters analysts.

Robertson said: "we remain optimistic about the outlook for 2010 and will continue to work to achieve a goal of breaking 1 billion pounds in 2015."

Over the past year, ASOS's share price has increased by more than three times.

2010 to 2011 fiscal year,

ASOS

Revenue was 339 million 700 thousand pounds, an increase of 52% over the same period, and retail business revenue increased by 25%. In addition, it benefited from the opening of the websites of the United States, France and Germany, and the sales revenue of international sales increased by 142%.

ASOS's website in Spain, Italy and Australia will open in 2011.

Many retailers are having problems in the macroeconomic downturn, but ASOS is growing, mainly because ASOS has a core of young users, and consumer spending shifts from physical stores to the Internet.

ASOS also opened Facebook stores and launched mobile apps.

Robertson, the company's CEO, said: "this is a shopping experience that can be applied through mobile phones or through Facebook."

He said: "we believe that this is

online shopping

The next turning point.

People no longer go to the website, but a more personalized online shopping experience.

ASOS will not announce its first quarter results until mid July.

But Robertson is confident of his performance.

He said: "the fourth quarter is the best quarter of our performance, and the overall situation has not been strict since the fourth quarter. So what will be the impact of the first quarter?"

Robertson said that the royal wedding of British Prince William and Kate Middleton also provided impetus for the development of ASOS.

He said: "Middleton has made a very good advertisement for British fashion."