Online retailer Asos has revealed plans to shake up its concessions network to ramp up profits over the next year.
It comes just a week after the online shop, which specialises in a combination of its own-lines, high street and designer brands, New Asos returns policy means you might be refused a refund on your next order - and offer loyal customers longer to change their minds.
In its annual report, the online department store revealed half year profits have tumbled 87% to £4million - although it said sales have risen to hit the £1.3billion mark. It's now pledged to improve numbers with a host of sweeping changes.
In a statement, the business said it's "continuing to build on new customers through product, presentation and engagement", with influencers and social media, namely Instagram, at the heart of this.
It said over the past year, several categories performed behind expectations suggesting some ranges "were not quite right".
Menswear performance across tailoring, accessories and footwear were weak but it had success with key trends such as oversized tops and animal prints.
In womenswear, 'going out' sales were worse than planned - Asos said it continues to see a decline in lace and embellished dresses.
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That's alongside falling transactions in accessories and swimwear - though day dresses, casual bottoms, skirts and jersey top sales were strong.
Announcing its latest plans to drive up profits for the next half of the year, Asos said it's "secured a mix of smaller, fresher up-and-coming brands" to win back shoppers in a shake-up of its current network.
That's after axing around 280 brands and adding over 190 new ones last year.
"Some more established premium brands don't currently appeal to our 20-something customers and we have exited these, onboarding others that resonate better," a statement said.
New Asos returns policy means you might be refused a refund on your next order
This has seen the welcoming of Tommy Hilfiger, Aveda, Estee Lauder and Kilian online.
It's also revealed plans to launch H&M-owned & Other Stories online this summer, alongside Opening Ceremony and Margiela MM6.
Speaking on concessions, it said Collusion has been the most successful brand to ever launch on Asos, selling 1.5million units in the past six months alone.
On pricing, it said there are also plans to rethinking price tags to engage better with its 20-something spenders.
The figures come after online fashion group Boohoo saw profits soar over Christmas after shoppers made a beeline for its PrettyLittleThing and Nasty Gal websites - and £6 fashion lines.
UK sales at the Manchester-based group rose by a third to £180million in the last four months of 2018 while total group sales jumped to £328.2million.
