Retail sales surged by 40% at Asos as the fast fashion retailer reported another strong performance for the year ended 31 August 2013. Profit before tax and exceptional items were up 23% to £54.7m but it was in the international market where its success came with 63% of total retail sales coming from overseas. In a statement, the company said it will launch in China soon after launching a website in Russia this May.
Founded in 2000, Asos is one of the biggest success stories of British retailing in recent years, selling over 65,000 branded and own-label products shipped for free to 237 countries. Nick Robertson, CEO, Asos commented: “During the year we continued to make progress towards our goal of being the world’s number one fashion destination for 20-somethings. We reached the milestone of 7 million active customers worldwide, following significant investment in our product offer, delivery options, customer experience and marketing.”
During the year Asos added new third party brands including New Look, Monki, Jack Wills and Pull & Bear. Asos, who set up offices in the EuraTechnologies tech start-up hub in Lille, France a year ago, revealed that they were signing up a customer every minute at their busiest times. Gaele Wuilmet, who heads up its French office said one of the reasons the retailer decided to move to Lille was due to convenient business links with London and Paris. “Lille is the capital of e-commerce and fast fashion,” she declared during a morning briefing at Asos France yesterday.
The company announced plans on Wednesday to step up investment in support of its rapid sales growth, saying it would increase spending on people, technology, logistics and marketing to about £55m in each of the next two years. It invested £33m in 2012-13.
Shares in Asos have more than doubled in the past year, but slipped 5.1pc in early trading on Wednesday to £52.03.
Following on from last weeks post (Guess who’s Back…Reebok! With their new FitHub concept.) Adidas group retail director Rupert Campbell confirmed further plans for the Reebok brand “It’s been nearly 12 months since JJB collapsed. Five years ago they were turning over a huge amount. There’s a gap in the market. We want to grow our share of the premium brand market and doing it in our own stores is the best way to do it.”
So, today i decided to pop back down to Reebok Covent Garden to experience 1st hand what exactly the company’s new ethos about “designed to inspire people to move, to train, to get fit and have fun doing it, the Reebok FitHub offers a new way of thinking about fitness” really meant. It may have been dull, it may have been wet but that did not stop Reebok UK making a return to retail by launching their new concept #FitHub in style! As soon as i entered the store i knew instantly something was going down as the place was packed! Customers milling around the new ranges, staff hyperactively serving the crowds and in the corners of the small store stood #ReebokFitHubCG photo booth in one corner and a meet & greet with Cross Fit athlete Annie Thorisdottir and Frederik Aegidius in another. I genuinely don’t think I have ever been in a sports store where the majority of customers actually look really fit & healthy! The social media @ReebookUk had obviously been working hard as at least 75-80% of the people in the store looked like they were there with a specific agenda. However, this could have had a lot to do with the promotions / freebies Reebook were offering everyone!
I then headed to the Covent Garden Piazza where the FitHub launch was in full swing with its new partner Les Mills UK who were demonstrating their dance program SH’BAM. Reebok UK had it all going on from the: event management, photography & videography, PR team handing out free water bottles, socks and gift cards, event MC and a Crossfit station on stage. After SH’BAM came another Les Mills program BODYCOMBAT which unfortunatley had to be demonstrated in the rain! Next up was the local Yotopia Yoga who were kitted out in one of the new AW13 Reebok ranges, despite that the rain had decided to pour down so their demo was postponed.
The event seemed to be getting tons of attention, even with the wet weather. The event was running all through out today from 11:30 to 19:30 encouraging all Londoners to get active, by offering a range of sessions and incentives led by fitness experts from within the Reebok community. Reebok has committed to offering a number of FREE workout classes at the FitHub each week of which details will be displayed via the in store Reebok Community Board. So if you live or work around the Covent Garden area dont be glum about the winter coming, head into the Reebok FitHub and join the revolution!
When was the last time you managed to walk through a shopping centre, pick up a magazine or even surf the internet without seeing the latest flashy Ad campaign for the newest fitness get-up? The days of wearing an old pair of elasticated jogging bottoms and a big baggy T-shirt just for a wee jog around your local park are well and truly gone. Over the past few years the market leaders believe there is just no excuse for not looking good even when you are sweating!
The big sports brands likes of Addidas, Nike, Puma & Under Armour have all been leading the way with advancements in technology when it comes to the fitness & sport clothing industry. One brand releases their newest silicon infused compression top, while another produces a campaign on the latest design in running shoes. However, a brand name which has not been seen to follow as quickly into the fitness domain as its competitors is Reebok, well that was until now!
History
Reebok International LTD, is a subsidiary of the German company Adidas since 2005. It is a producer of athletic shoes, clothing and accessories. The name comes from the Afrikaans spelling of rhebok, a type of African antelope or gazelle. In 1890 in Holcombe Brook, a small village six miles north east of Bolton, Greater Manchester, Joseph William Foster was making a living producing regular running shoes when he came up with the idea to create a novelty spiked running shoe. After his ideas progressed he joined with his sons, and founded a shoe company named J.W. Foster and Sons in 1895.
In 1958, two of the founder’s grandsons Joe and Jeff Foster renamed the company Reebok in the United Kingdom, having found the name in a dictionary won in a race by Joe Foster as a boy; the dictionary was South African edition hence the spelling. The company lived up to the J.W. Foster legacy, manufacturing first-class footwear for customers throughout the UK. In 1979, Paul Fireman, a US sporting goods distributor, saw a pair of Reeboks at an international trade show and negotiated to sell them in North America and as they say, the rest is history!
Present
To date Reebok’s brand value is worth $1,500,000,000. It has lost $500 million from 2010 as the company only have a 1.6% share of $2.4 billion USA basketball trainer mark wet which versus Nike’s 93% share. However the brand seems to be re-focusing its objectives with the launch of their 1st ever Fitness Hub here in the U.K. According to Reebok, the concept behind the new store in London’s Covent Garden is a combination of shopping along with your fitness lifestyle.
The store has been cleverly design like a gym environment: they have fixtures which replicate gym equipment such as agility rings, music specially selected for workouts, genuine gym flooring and functioning plyometric jump boxes as seating.
Apparel is merchandised in themes around the store in accordance to your specific type of workout (classic, training, running and studio), so it’s easy to find exactly what you need. The use of mannequins are not only eye catching in a urban way but are positioned to illustrate each sport, showing how the kit moves with your workout.
The staff are impressive, to say the least, with strong fitness backgrounds and qualifications ranging from personal trainers and nutritionists to sports scientists. They are passionate about helping you to find the right clothing for your workout, but can also help with training tips and general health advice while you shop, setting them apart from the usual sports store service.
The Reebok hub are also keen to give back something to the community and encourage Londoner’s to get active. So they are offering FREE workout classes in store throughout the week (Mon-Fri), as well as in-store fitness challenges and take away workout cards. The Reebok Community Board will also publicise local events, new workouts, local gyms and instructors etc.
What’s more, (and i do have it on good authority) Reebok have signed a 2 year partnership deal with multinational group fitness experts Les Mills International. This partnership will see the Reebok brand being worn by approximately 90,000 Les Mills instructors, in 15,000 gyms over 80 different countries with an estimated 6 million weekly participants. http://w3.lesmills.com
http://www.youtube.com/watch?v=YCJoA5gMVuQ
‘Reebok are on a mission to empower people to be fit for life,’ says Covent Garden store manager Parminder Turna. ‘The hub is a game changer. We want people to be comfortable in what they’re wearing and experience the products in a real life environment.’
This is the first of six Reebok FitHubs to open in the UK this year so expect something nationwide soon!
Reebok FitHub, 32 Long Acre, Covent Garden, London, WC2E. www.Reebok.co.uk