The chief executive of online fashion retailer Asos has boasted that its US sales will outstrip the UK over the next three years, after sales across the Pond boomed in its first quarter.
Nick Robertson made his prediction despite a surge in UK sales ahead of market expectations in the last three months after price reductions attracted British twentysomethings back to Asos.
Its co-founder also said Sunday had been its biggest sales day of the year so far, with yesterday nearly matching it, to continue the trend over recent years of consumers leaving their shopping closer to Christmas. The star performer was the group’s US operation, which delivered retail sales up by 57% to £19.1 million over the three months to November 30.
Robertson said: “We would absolutely see the US outstripping the UK over the next three years.” US First Lady Michelle Obama has regularly given Asos a sales boost by stepping out in its clothes. UK sales rose by 24% to £62.1 million over the quarter at Asos, which has 5.4 million customers in 160 countries.
But Robertson warned on continuing financial pressures on its young UK customers: “I am not seeing the banks being more lenient in terms of over-drafts and credit cards.”
