ASOS are pulling 280 brands from their website
12 April 2019, 13:51
First returns, now this!?
Bad news, ASOS are scrapping some of our favourite brands following "disappointing" sales. Over the past year, several categories haven't quite raked in the cash ASOS thought they would, suggesting some ranges were "not quite right" for the brand.
ASOS have changed their returns policy and people are fuming
In their annual report, ASOS revealed their half-year profits had dived 87% to £4million. However, overall, sales have risen to hit the £1.3 billion mark. The UK-based fashion website has now vowed to improve their profits and that means over 200 brands are now on the chopping block.
"Some more established premium brands don't currently appeal to our 20-something customers and we have exited these, on-boarding others that resonate better," a statement from ASOS read.
ASOS haven't confirmed which brands have received the chop just yet or when we'll see them disappear for good, but seriously, we're FREAKING out.
However, it's not all bad news.
ASOS will be adding 190 new brands into the mix and quench our fashion thirst. The company are hoping to win back shoppers by adding new brands like, Tommy Hilfiger, Opening Ceremony and H&M owned &Other Stories, which will be coming this year.
The statement continued: "We have also secured a mix of smaller, fresher up-and-coming brands alongside more established brands such as &Other Stories, which will be going live across this spring summer and into autumn winter, as we continue to focus on sharpening the relevance of our product offering."
Phew.