Many of us are still in a period of mourning for Topshop (and specifically, Big Topshop on Oxford Street) after all its stores shut down and the brand was brought by Asos in 2021.
But fear not, fast-fashion girlies. Asos, which currently only operates online, has announced plans to open physical shops to sell discount clothes to customers. The IRL stores will sell out-of-season items that the retailer has not been able to shift.
Last year, it was reported that Asos had too much surplus stock, which had partly contributed to the company diving into the red. Some items weren’t getting viewed online at all and the overproduction of stock had led to a drop in profits. Who has hours and hours to click through shopping pages, anyway?
José Antonio Ramos Calamonte, the new chief executive of Asos, has acknowledged the failures of the business and set out a new plan for the next 12 months – starting with selling off surplus stock.
The location and the opening date of the stores haven’t been confirmed yet, as the initiative still seems to be in the planning stage. Stay tuned to find out more soon.
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