Having started the business in 2000 as a way for customers to buy articles of clothing seen worn by celebrities, the business grew to a stage where it floated on the Alternative Investment Market a year later.It then became the largest company on the AIM exchange, with its most recent financial figures in October 2014 showing revenues of nearly £1bn and profit before tax of £46.9m. However, despite launching its services in a number of other countries such as Russia and China, incidents such as a fire at its Barnsley warehouse in 2014 have impacted its ability to grow further. A ten per cent fall in first half profits was reported in March 2015, put down to a “strong pound”, investment programme and price cuts, while the rise of other online retail channels have also impacted its ability to grow revenues and profits. In resigning from his role as CEO, Robertson will be taking up a non-executive director position to part continue his involvement with Asos. CFO Nick Beighton, who joined the business in 2009, will now become CEO – “widening his management responsibilities beyond finance”. Helen Ashton, who was unveiled as the new CFO in April, now takes up her role as Beighton moves up. Read more on the fashion industry:
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