ASOS
This coverage analyses ASOS’s business strategy, market performance, and role within the UK retail industry. Reporting covers financial results, e-commerce initiatives, supply chain developments, marketing campaigns, product launches, and leadership decisions. With a focus on commercial outcomes and operational strategy, it provides valuable insights for retail executives, brand managers, and professionals monitoring online fashion retail and digital transformation.
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Sep- 2024 -5 September
Today’s news in brief-5/9/24
Asos has sold a majority stake in Topshop and Topman to Heartland, a move valued at £135m. Heartland, owned by Bestseller, will acquire a 75% stake while Asos retains 25%. The deal includes rights for Asos to continue marketing the brands online under a new joint venture, aiming to streamline…
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5 SeptemberClothing & Shoes
Asos offloads Topshop and Topman ownership amid refinancing
Asos has offloaded ownership of the Topshop and Topman brands amid a refinancing of the business, after forming a joint venture with investment company Heartland. Following the move, Heartland will acquire a 75% stake in the brands for a total of £135m, and the remaining 25% stake will be owned by…
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4 SeptemberNews
Today’s news in brief-4/9/24
John Lewis Partnership has submitted an £80m proposal to transform a disused warehouse in Reading into 215 energy-efficient rental homes. The planning application, now with Reading Borough Council, envisions a mix of one, two, and three-bedroom units featuring amenities for fitness, home-working, and socialising, alongside community spaces and public green…
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4 SeptemberPeople Moves
The Very Group appoints former Asos exec as NED
The Very Group has announced the appointment of Nick Beighton and Paul O’Donnell to the company’s board as non-executive directors. It comes as non-executive director Mark McMenemy has retired from the board, having rejoined the company in 2019 after giving up executive roles to accommodate non-executive and consulting positions. McMenemy…
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Aug- 2024 -21 AugustClothing & Shoes
Asos shareholders approve new pay plan for execs
Asos shareholders have approved a new pay plan for executives with the group’s new Value Creation Plan (VCP). According to the company, the scheme aims to further align executive directors and the senior leadership team with its “ambitious growth plans”. Around 91.82% of shareholders voted in favour to amend the…
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8 AugustNews
Today’s news in brief-8/8/24
Deliveroo has reported a return to profit in the first half of the year, with earnings reaching £1.3m, a significant turnaround from a loss of £82.9m in the previous year. This success was driven by enhanced consumer retention and expanding partnerships with retailers. Key metrics include a 6% increase in…
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8 AugustOnline & Digital
Asos secures three-year Microsoft deal to expand AI use
Online fashion retailer Asos has signed a new three-year agreement with Microsoft in a bid to enhance its operations, efficiency and “data-driven” decision making. The news comes as Asos has already taken advantage of AI features integrated into Microsoft solutions, including process automation through Power Automate, Teams Premium, and Microsoft…
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6 AugustNews
Today’s news in brief-6/8/24
UK retail sales saw a slight uptick of 0.5% year-on-year in July, driven by improved performance in food sales and summer clothing purchases amidst favourable weather. However, non-food sales declined by 1.7% over the same period, with in-store sales particularly affected, reflecting ongoing shifts in consumer spending habits. The online…
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6 AugustNews
Asos proposes new executive pay plan
Asos has proposed changes to its remuneration policy with the introduction of a new Value Creation Plan (VCP). The retailer is convening a general meeting on 20 August to discuss the introduction of the VCP, which is set “to further align executive directors and the senior leadership team with the…
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Jul- 2024 -30 JulyClothing & Shoes
Boohoo hires advisers amid refinancing talks
Boohoo lenders have allegedly hired advisers to discuss refinancing options to tackle its £325m debt wall and losses. According to Bloomberg, creditors have hired FTI Consulting Inc to deal with the refinancing as Boohoo is also working with bankers at Rothschild and Co. The retailer’s latest annual report shows that…
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