Asos teams up with Adidas to launch a collection using its Test & React model, cutting production times and adapting quickly to trends. Facing declining sales, Asos aims to attract younger consumers with innovative strategies.

ASOS, Boozt, and Selfridges join FASHION LEAP FOR CLIMATE. About 100 brands from their portfolios will access tools and an 8-week course. Cascale adds 25 participants. Co-founders ABOUT YOU, Zalando, YOOX aim for decarbonisation industry-wide.

Asos CEO José Antonio Ramos Calamonte saw a 43% pay increase to $1.5M, while the company reported a $481M loss for FY2024. Sales fell 18% to $3.7B. Despite this, Asos highlights progress in profitability and inventory management.

On 14th November 2024, Assos of Switzerland filed a lawsuit against Asos. The legal battle is over breach of contract. This marks a repeat conflict since Asos paid $25.8M in 2016 to settle previous trademark issues. Assos is owned by TZP Group.

Asos posted a $379M loss this year, yet CEO Calamonte remains unfazed by competition from Shein or Vinted. Calamonte believes the fragmented market leaves room for Asos’ customer-focused model. He noted a 24% rise in “newness” sales, despite only a 6% increase in stock. Asos will double its “test-and-react” line, aiming to adapt swiftly to trends. The CEO’s focus on Asos’ unique styling, curated brands, and fast supply model signals confidence in the retailer’s position, even as losses widen.

ASOS has sold 75% of Topshop and Topman to Heartland for $176M. ASOS retains 25% and design/distribution rights. The deal may lower ASOS' profits this year but promises long-term growth, including a relaunch soon.

Asos is cutting over 200 head office roles as part of a major restructuring effort. This comes after the retailer reported a $120M loss in the first half of 2024. The tech team is most affected, but new roles are being created.

Asos has seen significant sales growth since joining TikTok Shop in March 2024, with 57% of transactions from new customers. Execs believe social shopping may eventually bypass traditional online retailers if shoppers buy directly on TikTok.

Asos turned down a £215M bid for Topshop by Shein and ABG, favoring a £135M joint venture with Heartland. This gives Asos distribution rights and future royalties for the Topshop brand, boosting long-term growth.

ASOS sold a 75% stake in Topshop to Heartland, generating $146M to strengthen its balance sheet. ASOS retains 25% and faces pressure from rivals like Shein and Temu. Shares rose 18% following the announcement.

Asos may be ending free returns for some customers in the UK. An email update hinted at changes to the returns policy, similar to a move made in the US last year where a $4.99 fee was introduced. The potential change targets "serial refunders".

Asos has introduced Nibble, an AI chatbot that lets shoppers haggle on prices. Some users reported discounts of up to 40%. This move follows Asos' ongoing commitment to AI, including a new 3-year deal with Microsoft signed earlier this month.

ASOS signed a 3-year deal with Microsoft to enhance AI in operations. The retailer will use tools like Power Automate and Microsoft Copilot to automate tasks and boost efficiency. This deal strengthens their AI Stylist feature, offering personalized shopping experiences.

Clifford Cohen, Asos CTO, leaves after 9 years. He joins the renewable energy sector in August. Hugh Williams steps in as interim EVP for technology. Cohen thanks the team and leaders for their support over the years. Williams has advised Asos for 18 months.

Asos, once a pioneer in online retail, is grappling with a 20% decline in sales, fierce competition from Shein and Temu, and a changing business model.

The U.K.'s CMA has gotten ASOS, Boohoo, and George at Asda, raking in $5.55B yearly, to promise only true green claims. This marks a critical move in fashion's fight against environmental misinformation, setting a standard for the industry's future.