Asos co-founder pockets £15m as sales soar again
Thursday 15 July 2010
Asos, the online fashion retailer, continued to deliver "scorching" sales in its first quarter, as it emerged that its chief executive has pocketed nearly £15m by selling a fifth of his stake. Nick Robertson, who co-founded Asos in 2000, has sold 1.68 million shares at 890p, which has reduced his shareholding to 10.3 per cent, according to a regulatory filing yesterday. He said its international sales, which grew by 111 per cent for the quarter to 30 June, were "on fire". Mr Robertson cited strong growth in Germany, France and the US.
Its UK sales jumped by 32 per cent over the period. Mr Robertson said: "We have sold tens of thousands of maxi-dresses and the warm weather for the festivals has really helped sales of denim shorts and sandals." Group revenues at Asos rose by 48 per cent to £65.8m.
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