Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Asos offers free shipping in the U.S., where it has 1 million customers.
Asos Plc Holdings, which says it aspires to become the No. 1 fashion destination for twenty-something shoppers worldwide, is reporting big gains in web sales in the U.S. and globally.
The web-only apparel retailer says its U.S. web sales grew 50% in its fiscal second quarter ended Feb. 28, and 50% for the first half of its fiscal year. Global sales increased 45% in the quarter and 39% for the six-month period.
Asos says it has attracted more than 1 million registered shoppers in the U.S., where it offers free shipping. The retailer opened an office in New York in July 2012. The U.S. is now Asos’ largest market outside of the United Kingdom, representing 9% of global sales.
For the fiscal second quarter, ended Feb. 28, Asos reports:
- U.S. web sells grew 50% to 16.5 million pounds ($25.0 million) from 11.0 million pounds ($16.6 million) in the same quarter a year earlier.
- Total U.K. online sales grew 28% to 75.5 million pounds ($114.2 million) from 59.0 million pounds ($89.2 million).
- Sales in the European Union, outside of the U.K., totaled 44.1 million pounds ($66.7 million), up 58% from 27.9 million pounds ($42.2 million).
- Web sales in geographies other than the U.K., U.S. and European Union totaled 50.3 million pounds ($76.1 million), an increase of 33% from 37.8 million pounds ($57.2 million).
- Total retail sales of 186.5 million pounds ($281.9 million), ahead 37% from 135.8 million pounds ($205.3 million).
- Total revenue, including delivery receipts and third-party sales, increased 37% to 190.3 million pounds ($287.7 million) from 139.2 million pounds ($210.5 million).
“Our U.K. performance remained ahead of expectations at +28%, with particularly strong trading during the peak December period,” says CEO Nick Robertson. “Our international business grew by +45% and now accounts for 59% of our total retail sales. Our EU growth continues to be driven by strong performance in those countries where we have dedicated web sites and particularly by our new in-country teams in France and Germany.”
For the six months ended Feb. 28, Asos reports:
- U.S. web sells grew 54% to 35.6 million pounds ($53.7 million) from 23.1 million pounds ($35.0 million) in the same six-month period a year earlier.
- Total U.K. online sales grew 26% to 137.6 million pounds ($208.0 million) from 109.0 million pounds ($164.8 million).
- Sales in the European Union, outside of the U.K., totaled 77.5 million pounds ($117.1 million), up 36% from 56.8 million pounds ($85.9 million).
- Web sales in geographies other than the U.K., U.S. and European Union totaled 101.7 million pounds ($153.7 million), an increase of 37% from 74.0 million pounds ($111.8 million).
- Total retail sales of 352.3 million pounds ($532.6 million), ahead 34% from 262.9 million pounds ($397.5 million).
- Total revenue, including delivery receipts and third-party sales, increased 33% to 359.7 million pounds ($543.9 million) from 269.9 million pounds ($408.1 million).