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Asos asks suppliers for price cuts

Following the investments Asos made in logistics, sustainability and marketing, the marketplace has asked its suppliers for price cuts. Among the recent investments the marketplace has made is the development of logistics platforms in the United States and Germany.

The multi-brand store is seeing positive momentum in customer engagement with visits up 16 per cent year-on-year. The company is making good progress in improving customer engagement, but embedding the change from the major overhaul of infrastructure and technology in its US and European warehouses has taken longer than anticipated, impacting its stock availability, sales and cost base in these regions. The move to a multi-site logistics infrastructure will enable it to offer customers across the world its market-leading proposition, facilitate its future growth as well as lead to longer-term efficiency benefits.

Asos is spending on new technologies, like artificial intelligence, new marketing strategies, technology platforms and infrastructure, and focusing on growth in the US. Current areas of focus include reducing prices and refocusing the marketing strategy. Unlike a lot of other fast-fashion companies, Asos has its marketplace, third-party brands, its own products, it has beauty. The brand has diversified its offerings, unlike a lot of other fast fashion brands that have just focused on cheap items and breadth of assortment with private-label goods.