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.

Related

Desk / Unsplash

GVZH Advocates announces three senior leadership changes

12 July 2024
by Fabrizio Tabone

The appointments include Ann Bugeja as the firm’s first female Partner.

WhatsApp is the most popular messaging and voice call platform for local businesses, MCA survey finds

12 July 2024
by Anthea Cachia

52 per cent of businesses surveyed use WhatsApp for voice communication.

Employers’ Group President calls for greater action to tackle EU’s declining competitiveness

12 July 2024
by Fabrizio Tabone

Stefano Mallia's comments came as he was addressing Hungarian Minister of EU Affairs János Bóka ahead of Hungary’s presidency of ...

World Population Day: ILO says understanding population trends crucial to address employment challenges

11 July 2024
by Fabrizio Tabone

According to ILO data, Malta has the fifth highest rate of international migrants in its labour force.

Close Bitnami banner
Bitnami