GO
Loading...

Next stop China...then, the rest of the world: Asos CEO

Wednesday, 23 Oct 2013 | 2:16 AM ET
Global markets in ASOS's sights: CEO
Tuesday, 22 Oct 2013 | 7:00 PM ET
Nick Robertson, CEO of ASOS, says that the online retailer will look to expand into other major economies after launching a Chinese-language website this month.

Asos will look to other major global markets after launching a Chinese-language website this month, according to Nick Robertson, co-founder and CEO of the online retailer, as it reported a full-year profit jump of 23 percent on Wednesday.

"You can see us exploring the other big economies, so that could be South America than could be India," Robertson told CNBC Wednesday, but added that nothing has yet to be confirmed.

"Ultimately we want to be operating in as many markets as we can."

The U.K. clothing retailer, which aims its mutlibrand offerings to men and women in their twenties. announced back in April that it would take its first tentative steps into the world's second biggest economy after similar moves into Russia.

(Read More: Asos gets sales boost on tailor-made prices)

"China is a slightly separate business for us," Robertson said. "(It's) not fully formed, it's a small start-up, it's going to be a long journey for many years to come."

The company has successfully tapped the shift to online and mobile shopping for clothes: shares have rallied 95 percent so far this year. It reported on Wednesday that sales continued to soar both in Britain and in its overseas markets.

It made a full-year pretax profit of £54.7 million in the year to August 31, meeting market expectations, a rise form the £44.5 million made in the year before. Meanwhile, revenue, reported last month, rose 39 percent to £769.4 million.

(Read more: UK economy 'needs more time to recover': Philip Green)

"Internet shopping and mobile shopping is becoming he norm," Robertson added. "This is a huge structural shift..(customers) are voting on their feet."

CNBC.com's Matt Clinch. Follow him on Twitter @mattclinch81

  Price   Change %Change
ASC
---

Featured

Contact Earnings Central

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More