Asos, The Next Online Retail Model?

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Asos, The Next Online Retail Model?

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  • Asos, The Next Online Retail Model?Helixa16, rue Brey - 75017 ParisCreative Commons License July 2012
  • Why Asos? 2
  • ASOS is the largest european pure-player on online clothing retail - Profitable since 2003 - Has delivered 63% CAGR over the last 5 years - Should exceed 1b in revenues by 2014 on our forecastsInternational business accounts for 59% of sales - Free shipping shipping to 190 countries - No foreign warehouse - Top 5 most visited online fashion storesWhat is the secret of Asos? 3
  • Asos at a glance 4
  • 2000 ASOS launched in the UK As Seen On Screen sells clo- thing and accessories as seen in films and on stars ASOS IPOASOS was admitted to AIM on the London Stock Exchange 2001 2004 ASOS Business model Maiden Profit ASOS Magazine Free magazine on last womens fashion trends to promote ASOS 2007 items 5
  • ASOS own label At first, a label only for women, 2008 then extended to men ASOS sites Launched American, German and 2010 French languages versions. Then, Australian, Italian and Spanish languages (2011) and Russian (2012) ASOS marketplaceAdd small business and customer to customer sales to their 2011 e-commerce offer ASOS offices 2012 Opened the first international office in Sydney, Australia 6
  • 495 m +46% 190 AMBITION 2015 SALES (2012) GROWTH COUNTRIES 1 b SALES (2012 vs 2011) UK198 m sales (41%) ASOS 2012 INTERNATIONAL 284 m sales (59%) +103% (vs 2011)+7% (vs 2011) BASKETS ORDERS 63.5 average basket 11.8 m orders +6% (vs 2011) +52% (vs 2011) CUSTOMERS 17.5 m unique visitors (+35%) 4.4 m active customers (+38%) Source : ASOS 2012 Full year financial results 7
  • Asos,A clear and aligned positionning vision Be the online Fashion destination for young adults: inspire and power Fashion discovery mission Provide the best online shopping experience for fashion through one of the largest offer (branded & own label products in womenswear, menswear, ) for all prices and enriched with social platforms - Young adults (16 to 34 years old), men and women target - Highly interested in Fashion - Digital natives E-stores & - 7 country-specific websites for: UK, US, Australia, France, Germany, Italy, Spain - All devices and social networks points of interaction - Asos Magazine Source : ASOS website 8
  • Asos: an online success story 9
  • Asos, Turnover while significant MarginsSkyrocketting CAGR 2005-2012: +66% 495 m CAGR 2005-2012: +71% 340 m 223 m 165 m 81 m 43 m 42 m 20 m 20 m 29 m 8 m 14 m 14 m 3 m 7 m0m 0 m 1 m 1 m 2004 2005 2006 2007 2008 2009 2010 2011 2012 Revenues EBIT Source: Company data, Credit Suisse estimates 10
  • A Growth fueled by Innovations00m00m ASOS for children (2009) Collection Mobile ASOS maternity00m Collection (2008) & Marketplace ASOS Apps ASOS for men (2010) Launch (2007) (2012) Australia, Spain & Italy (2011) ASOS Salon Designer Store (2012)00m (2009) Facebook Store (2011) ASOS outlet Launch in (2008) US, France & Germany Asos Magazine (2010) 1 online fashion th (2007)00m ASOS own ASOS show UK (2006) ASOS Life (2009) brand Cosmetics (2004) (2005)0m 2004 2005 2006 2007 2008 2009 2010 2011 2012 Source: Company data, Credit Suisse estimates 11
  • Expected sales growth over thenext years in a gloomy market ASOS sales growth, UK & International1 200 M1 000 M 800 M 600 M 400 M 200 M 0 M 2009 2010 2011 2012 2013e 2014e 2015e Uk Sales International Sales