ASOS' Big Investment: Luxe Reseller Covetique

News & Scoops

2012 November 26

ASOS chose Covetique as an AW '12 "Style Obsession"; now is investing
ASOS.com View Gallery

(NEW YORK) ASOS is branching out from chicly affordable new togs: the British fast fashion brand has made a significant minority investment in Covetique, a website that buys and sells pre-owned designer duds. The top-notch labels in Covetique's preloved slew of online goods for offer are authenticated, priced, photographed, and shipped by the firm, which was founded last year. ASOS has toyed with slightly-used attire via its ASOS Marketplace section of its business, but its buy-in of Covetique signifies the company's debut effort in the upscale resale arena. In other ASOS news, the company enjoyed a 40 percent increase in yearly profits; back in 2007, ASOS rolled out a monthly magazine to satiate its 18- to 34-year-old demographic on an editorial level.

Comments

blog comments powered by Disqus

Connie Anne Phillips Goes To Glamour

Condé publisher shuffles alert! After InStyle publisher Connie Anne Phillips parted ways with the Time Inc. title last month, word had it that Phillips would be returning to her old...

Read More »
Resort 2014: Zimmermann

Zimmermann: This season, Zimmermann's resort collection was all about good girls gone bad, which naturally meant B&W contrasts plus a mix of sweet and sexy. The aim? A flirtatiously...

Read More »
Dolce & Gabbana Verdict Expected Wednesday

Will Domenico Dolce and Stefano Gabbana be headed to the clinker soon? We hope not! A ruling in a tax evasion case leveled against the design duo is expected to be reached on Wednesday...

Read More »