With brick-and-mortar stores taking a hit around the world, due to imposed closures and lockdowns to mitigate the spread of the COVID-19 pandemic, it appears to be the dawn of a new era for e-commerce.
Following British online fashion retailer ASOS’ acquisition of Topshop, Topman, Miss Selfridge and HIIT brands last February, its CEO Nick Beighton has said that it is “highly likely” that more will follow as part of its multi-brand strategy.
In comments to Reuters, Mr Beighton affirmed that “ASOS has got ambitious plans,” as the group published record results for the quarter of the year.
“We’re building our business to be a substantially greater business with a 10-year view… It’s highly likely to achieve those goals we would pick-up some other brands or acquisitions along the way,” he maintained, stipulating that the brand has a strict criterion for selection.
“It’s got to be fashion, it’s got to be something our 20-somethings care about, it’s got to be a strong return for our (share) holders,” the ASOS CEO said.
Mohammed Louhab’s appointment as new FIMBank Group CEO granted regulatory approval
He takes over from Alejandro Gosttuski, who will now take on the role of an Advisor.
Mark Curmi named CEO at upcoming fintech provider Trumia
The company, set to launch soon, will seek to provide clients with ‘customer-centric and innovative’ financial services.
MSE CEO Simon Zammit highlights exchanges’ ‘pivotal role’ in addressing sustainability
The Malta Stock Exchange recently joined other exchanges for the inaugural Ring the Bell for Climate initiative.
A family charter acts as a ‘compass’ to guide family businesses through ‘evolution and succession’
Family businesses account for more than 70% of Malta’s SMEs, and are hence vital components of the local economy.
