Amazon May Buy Online Retailer Asos

U.K. clothing retailer may have caught the eye of Jeff Bezos

   

Could online retail giant Amazon (NASDAQ:AMZN) be adding another firm to its stable? Reports say CEO Jeff Bezos is thinking about acquiring U.K.-based clothes retailer Asos. Bezos met with Asos founder Nick Robertson in Seattle earlier this year.

Sources indicate that Amazon reviewed the firm’s books this year, and former Amazon exec Brian McBride is now chairman of Asos.

One of the U.K.’s largest clothing companies, Asos is strong with upmarket clothing brands. That makes it particularly interesting to Amazon because high-end clothes labels have been skittish about dealing with the online giant, fearing that selling there would damage the perception of their clothes as high fashion.

Asos saw its pretax profits more than double last year to 30.3 million pounds, also making it attractive to Amazon.

More from online retail:


Article printed from InvestorPlace Media, http://investorplace.com/2012/10/amazon-may-buy-online-retailer-asos/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.