British online fashion retailer Asos has revealed its retail sales rose by a whopping 41% in its third quarter globally, with 10% of that coming from the UK alone.
The site, whose celebrity fans include the first lady Michelle Obama, saw sales figures hit £78 million, driven by a huge boost in the UK of £35.6m in sales.
Nick Robertson, chief executive, said in a statement that the UK success was driven by better conversion of traffic alongside continued investment in its proposition and pricing.
In addition, international business grew by 47%.
"We remain positive in our outlook for 2012/13 as we continue our journey to becoming the number one online fashion destination for twenty-somethings, globally," Robertson added.
The success of Asos comes in stark contrast to that of fellow retailer French Connection, which yesterday issued a profits warning - its fourth in the past 12 months.
Marks & Spencer also unveiled a bigger-than-expected slump in clothing sales over Christmas this month, pushing its overall like-for-like UK sales down 1.8%.
“Clearly having the first lady as a fan helps any fashion business, but the success at Asos is based on a quality online offering befitting the champion specialists in the retail's most powerful delivery channel and a clear understanding of its customers," said Nick Hood, business analyst at Company Watch.
"This is in stark contrast to some of its competitors like M&S, who have lost touch with its natural constituency. Sales growth has been spectacular both in the UK and in its international markets, driven by an uncanny knack of satisfying the needs of its younger and more cost-conscious shoppers.
“Even better, Asos can use the strength of its cash-rich balance sheet to fund its planned expansion into more overseas markets and the ongoing investment in technology that its online business model will demand."
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