ASOS plans to open a physical store
21st October 2022 | Phoebe Dobke
Asos is planning on opening a physical shop to sell discounted clothes to shoppers.
The new boss of Asos, José Antonio Ramos Calamonte, announced that the online fashion retailer was “exploring all options” to get rid of excess stock.
This would consist of out of season clothes put on sale that the online retail giant has not been able to shift. If it happens, it would be the first time Asos has opened a physical store in the UK.
The need to clear stock comes after Asos reported a collapse in profits and it said it would post a loss for the next six months.
Calamonte also said that Asos had hiked prices this year. It said the cost of goods had gone up by “mid-single digits”.