Is eBay On The Verge Of Buying ASOS? | Fashion News
Rumours are circulating that online retailer eBay are looking to buy a stake in the e-commerce site ASOS. ASOS has had a difficult start to the year, after issuing profit warnings in March and in June. Shares in the company have dropped between an estimated 40 to 60 per cent this year. According to the Financial Times, the drops in shares are to be blamed on a strong pound, the brand’s heavy discounting and the impact on profits. Overseas expansion has also slowed down. The widely reported major warehouse fire in June did little to increase market confidence. eBay has been striving to reposition itself as a standalone retailer, and acquiring one of Britain’s most recognisable online stores would aid the move.
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