by Nate Wooley | October 22, 2012 10:18 am
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.
Source URL: http://investorplace.com/2012/10/amazon-may-buy-online-retailer-asos/
Short URL: http://invstplc.com/1nAUwaD
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.