Asos’s top marketer on how he got the Asos board to buy-in to a £30m brand investment, how he is rebuilding the business’s marketing team and why marketing is well placed to get Asos back on track.
The online retailer wants to be profitable by the end of its 2025 financial year, as it looks to ‘re-invent’ its marketing efforts.
The online retailer says it has progressed towards its strategic goals but remains exposed to overreliance on promotion and returns.
Asos’s CEO is confident the brand can turnaround its losses in the long-term, as it sets sight on marketing activity that drives profitable returns.
With UK sales down 8%, the ecommerce giant says it is “optimising marketing spend” and culling unprofitable brands in a bid to make £300m in savings.
As the online fashion giant posts lacklustre results for 2022, new CEO José Antonio Ramos Calamonte outlines his plan to deliver long-term sustainable growth.
Robert Birge will be returning to the travel industry after more than two years leading marketing at online fashion giant Asos.
Asos delivered revenue growth of 4% in the six months to 28 February, and an adjusted profit before tax of £14.8m. This marks an 87% drop in profit since last year.
After delivering a 30% increase in profits over the last financial year, Asos has laid out the five strategic pillars it is banking on to drive further growth.
The online fashion retailer grew its sales by 24% over the first half of its financial year, after boosting digital marketing spend to raise brand awareness and drive traffic to the platform.
From a brand perspective, Asos is in much better health than the Arcadia brands it has acquired but buying up Topshop, Topman and Miss Selfridge will help it boost perceptions of quality.
Asos believes the Covid-19 pandemic and supply chain allegations at rival Boohoo make clear and transparent communication more important than ever.
Shortening the fashion industry’s global catwalk calendar would be a trendsetting statement of intent that shows the couture houses are ready to take responsibility for their environmental impact.
Asos has culled its print magazine after 12 years amid a wider crisis for the brand but, as other companies can testify, a well-produced print title can still be a highly effective promotional tool.
Another profit warning and Twitter flogging shows the former darling of the fast-fashion world has a lot of ethical and operational issues to address.