ONLINE fashion firm ASOS will launch websites in China and Russia within a year as the group sets its sights on two of the biggest retail markets in the world.
The internet retailer currently sells to China and Russia, but will develop local language websites in the next 12 months under plans for total sales to reach £1bn by 2015.
ASOS, which targets twenty-somethings with clothes based on outfits first worn by celebrities, announced the move as it reported a 42 per cent leap in underlying profits to £13.2m for the five months to August 31, having recently changed its year end from March 31.
It said a 46 per cent rise in international sales was the “key driver” behind its performance in the period, although the UK also saw a 13 per cent jump in sales and gross profits.
The group drove a 40 per cent hike in the number of orders placed as it reviewed prices, with the average order value down by 6 per cent.
ASOS, which stands for As Seen On Screen, recently celebrated reaching the five million customer mark and confirmed it had more international customers than those in the UK. It has a distribution warehouse in Barnsley the size of six football pitches.
ASOS said: “We remain committed to establishing ASOS as the number one online fashion destination for twenty-somethings, globally.”