It is an online platform that allows customers to easily make a purchase. To try new things. Against this backdrop, in October 2021, we set out the headlines of the next phase of the ASOS strategy. Our customers increasingly want to express themselves individually rather than follow trends, seeking out brands that feel authentic and have a purpose. Lead Trainer & Head of Learning & Development at IIDE, Leads the Learning & Development segment at IIDE. Find the most up-to-date statistics about ASOS. ASOS's mission statement is "To become the number one destination for fashion loving 20-somethings." For promotion, they also send out leaflets and booklets via post and delivery. As we progress, we will continue to be guided by ASOS' purpose, to give our customers the confidence to be whoever they want to be, and by our Fashion with Integrity strategy, which underpins our drive to be a responsible company that delivers benefits for people and minimises our impact on the planet. We operate across the globe, in 10 languages and offer 19 different payment methods. Customers get next-day delivery or express delivery in every key country, and we provide four-day standard delivery in all our major markets. Copyright 2023 Surperformance. We also recognise that nothing can be achieved without the right people. The Audit Committee Chair and members regularly meet with both the External and Internal Auditors, without the Executive Directors or members of the Finance team ASOS Plc Annual Report and Accounts 2021 55 Strategic Report Governance Report Financial Statements Chief Operating Officer & Chief Financial Officer. Delayed London Stock Exchange Following the acquisition of the Topshop brands in the first half of this year, we have integrated at pace with supplier onboarding, transition of the brand team, and re-initiation of wholesale sales to Nordstrom, all completed in the second half of the year. We currently use the term 'ethnic minority'. They have a diverse product line that spans the entire price range. Now that weve analyzed the digital marketing strategy, let us look at the SWOT analysis of ASOS and better understand the brands strengths, weaknesses, threats, and opportunities. In February 2021 ASOS took over from the collapsing Phillip green Arcadia Group Topshop, Topman, Miss Selfridge, and HIIT brands, resulting in global expansion. Visit website Social Media Links Most Recent Annual Report MOST RECENT 2021 Annual Report It can be purchased via the internet or an app. But we have started the new financial year confident that we have an unrivalled collection of brands that resonates with our core 20-something customers, the right technology underpinning our platform, the right strategy in place and a strong management team, leading more than 3,000 ASOSers who have an unrivalled passion for fashion and what it means in the lives of our customers. Asos has announced its chief executive is leaving with immediate effect as the online fashion giant warned that rising costs are set to hit its profits. I am optimistic about our prospects and would like to take this opportunity to thank again all our colleagues, suppliers, brand partners, loyal customers and you, our investors. Ian made a great contribution to ASOS during his tenure. In his previous role as ASOS' Chief Commercial Officer, a role he held since January 2021, Jos took responsibility for driving our product and trading strategy globally, encompassing design, sourcing, garment technology, buying and merchandising, global trading, ASOS Studios and creative. We see further potential for growth via our strategic partnership with Nordstrom in North America as well as the broader development of the wholesale business. In a research report from retail analytics firm Edited, online retailer Asos is a best-in-class company with a winning formula. Since February, ASOS had more than doubled the number of Topshop and Topman products available on its website, with plans to double it again in the coming weeks. The company has actually collected over 80,000 branded and proprietary products. Distributed by Public, unedited and unaltered, on 28 October 2021 11:32:09 UTC. under our ownership. 45% reduction in operational CO2 emissions per order since 2015/16*. As Adam has outlined, we have made a number of leadership changes as we prepare for delivery of our next phase of global growth. In response to some of the above dynamics, we worked on various ways to mitigate these impacts to ASOS. The ASOS website and mobile application are very easy to use, and all of the most recent discounts and offers are displayed to customers first so that they can benefit the most. Greater London House Did you like our work? *Performance as of end of FY20, the latest period reported. Key Highlights For 20 years old, ASOS is an online fashion destination. Once theyve decided on a product, they can add it to their shopping cart and pay with a credit/debit card or cash on delivery. Finally, as we enter the new financial year, I would like to thank our customers for their loyalty and commitment. Y[?VSX9gY7+rv+u![86p"55=o>aSB6;'k2jDJczIs+R.?7T`; f>.p%pf1 _'y5lI\*8:byHn`qQ6 9. Registered in England 4006623 Lets take a look at ASOSs SWOT analysis below: Celebrities, to state the obvious, are always a hot topic. Our growth was underpinned by strong new customer acquisition and we continued to see a more engaged shopper added to the base in FY21. In this case study, well learn about the Marketing Strategy of ASOS in depth. Do you want to acquire these skills? Hampstead Road We aim to deliver a truly frictionless experience, with an ever-greater number of payment methods and hundreds of local delivery and returns options, dispatched from state- of-the-art fulfilment centres in the UK, US and Germany. So, now that weve analyzed the company, lets look at the top reasons for ASOS success. Against a backdrop of, continued challenges due to the COVID-19 pandemic, our. %PDF-1.7 % This was mainly driven by the COVID-19 returns rate benefit. Attend our Free Masterclass with Karan Shah, CEO of IIDE, to gain hands-on experience with digital marketing. Do you want to acquire these skills? While there is more to do, I am pleased by the progress made in this period and am confident in the direction we are going. The Fashion with Integrity 2030 programme is aimed at minimising ASOS' impact on the planet, delivering positive benefits for the people who work in fashion and meeting increasing demand from customers for greater choice in responsible fashion. ASOS envisions a world in which people are free to be themselves without fear of being judged. STRATEGIC REPORT 6 7 ASOS PLC Annual Report and Accounts 2020 ASOS PLC Annual Report and Accounts 2020 Whilst life for our 20-something customers is unlikely to return to normal for quite some time, ASOS will continue to engage, respond and adapt as one of the few truly global leaders in online fashion retail. We expect product mix and returns rates to continue to normalise in FY22 with no COVID-19 benefit expected in FY22. Furthermore, we introduced a sea/air combination, ensuring flexibility existed with transit times on longer lead sourced product. ASOS was born online, a pioneer in its field, and quickly became the fashion destination for 20-somethings in the UK. 513 0 obj <>/Filter/FlateDecode/ID[<6AA20041F74E5744909C926EC3C5AF68><5D19DB75F8A229468797076F26C836A3>]/Index[487 46]/Info 486 0 R/Length 113/Prev 154280/Root 488 0 R/Size 533/Type/XRef/W[1 2 1]>>stream The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360 view of the company. There is no doubt that 2022 has been a challenging year for ASOS. ASOS began as an internet-based platform for purchasing clothing and footwear. There is much for us to do, but together, the Board and management are confident that, by becoming less complex and more agile, ASOS will overcome the continued economic challenges ahead. ASOS is a leading fashion e-commerce retailer based in the United Kingdom. After they have paid for the product, it will be delivered to their registered address. Topshop and Topman Range An Awareness Campaign of Asos: AySauce Challenge A Tik Tok Campaign of Asos, Adidas x IVY Park A Product Launch Campaign of Asos, So, in this case study, well learn about ASOS in depth by going over its marketing strategy. Because it is an online portal, customers can only view product images and cannot try the product. After they have paid for the product, it will be delivered to their registered address. FWI has been a cornerstone of how we think, work and act for a decade. It sends emails and updates to the registered email addresses regularly. He is taking firm action now to build upon our core strengths and accelerate the changes needed to strengthen the business based on four key principles: simplicity; speed to market; operational excellence; and flexibility and resilience. The product is shipped to their addresses once payment is received. They have created groups and communities on social networking sites such as Facebook and Twitter to keep customers up to date on their products and discounts. % Jrgen is currently the Chair of Miinto, the Danish-based online fashion marketplace, and was formerly the President and CEO of Modern Times Group (MTG), the Swedish-based digital entertainments business, and recently stood down from the Board of Zalando following five-years as a Non-executive Director. The website sells over 850 brands as well as its own clothing and accessories, and ships to all 196 countries from fulfilment centres in the United Kingdom, the United States, and Europe. We integrated and relaunched the brands in three weeks - with one-off costs of just 10.5m, half the cost originally expected. hb```^V,Ad`0pl 0Nh``HPz|j]`mI{qtwuK5[W(p @HtA,f x^&( -r X`= Qe,iYx302213hp P.L@lf b ^z$R*$ZQtBI@` kI As a result, it ensures that everyone has an equal opportunity to discover all of the amazing things they are capable of regardless of who they are, where they come from, or what they look like to boss. It is essentially a formula for how a company will compete, what its goals should be, and what policies will be required to achieve these goals. ASOS claimed in November 2009 that it had one Twitter follower for every eight Facebook fans and 100 active email subscribers. Analyst recommendations: Asos, EasyJet, Glacier Bancorp, Mosaic,.. FTSE 100 Closed Down 0.4% as Economic Pessimism Rises, UK's 4Q Stagnation Could Be Revised Downward to Recession, Weak UK Economic Outlook Seen as Headwind for Pound. It also concentrates very much on video content. They now have over 250 employees, up from 47 when they first founded the company. Through its market-leading app and mobile/desktop web experience, available in ten languages and in over 200 markets, ASOS customers can shop a curated edit of over 90,000 products, sourced from more than 850 of the best global and local third-party brands and its mix of fashion-led own-brand labels -ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge and HIIT. Mat Dunn, CFO, will take on the additional role of Chief Operating Officer and leadthe business on a day-to-day basis, with Katy Mecklenburgh, currently Director of Group Finance, to support as Interim CFO, Ian Dyson to become Chair, replacing Adam Crozier whose decision to step down was previously announced, Search for a new CEO, led by Ian Dyson, is underway, Jorgen Lindemann to join the Board as a Non-Executive Director. Every day they vote for us with their orders. Lets look at the brands social media accounts below: ASOS brings its products to life through these channels. New Softcat CFO Katy Mecklenburgh to start in June, JD Sports hires Currys Chair Ian Dyson as non-executive director, Citigroup cuts Admiral; Jefferies likes PPHE. 0 We will significantly increase our marketing investment, particularly in international markets, and we will have capital expenditure in the range of 200m to 250m a year. ASOS originally stood for AsSeenOnScreen, with the tagline Buy what you see on film and TV because it only sold imitations of clothing from those mediums (for example, Brad Pitts red leather jacket from the 1999 film Fight Club). We have seen a recovery in demand for event-led product in the second half of the year across all our key markets, resulting in increasingly normalised returns rates and a rebalancing of our product mix towards event-led product. our operational structure, and reduced facilities and travel costs. endstream endobj 488 0 obj <>/Metadata 32 0 R/Pages 485 0 R/StructTreeRoot 42 0 R/Type/Catalog>> endobj 489 0 obj <. I would therefore like to start by thanking our dedicated and hardworking ASOSers, as well as our shareholders and partners, for their continued strong support. Leavesden, near Watford, in the southwest of Hertfordshire, is the customer service department. We also saw freight-related impacts on our costs, most notably in the second half of the year, driven predominantly by increased freight rates. Ian is the right candidate to oversee the next phase of growth, working with the existing Executive team to support the delivery of the global growth strategy. 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