share

ASOS may be bought by eBay

This could be what caused shares for the fashion e-tailer to increase by seven per cent this week

By Andrea Tim | Published: 29 Aug 2014

eBay to buy ASOS?
Photo: ASOS

ASOS experienced a major drop in its shares earlier this year – the company saw a plummet of sixty per cent after issuing a profit warning and having suffered a warehouse fire in South Yorkshire. However, with rumours that American e-commerce giant eBay is in talks to buy ASOS, shares for the latter climbed seven per cent.

The company estimated that in the fire which ripped through its Barnsley warehouse, twenty per cent of its total stock there was compromised. A business expansion to China resulted in higher warehouse costs and start-up losses, but with eBay's possible deal with ASOS, the British online store may yet go into a new, more profitable phase.

Related: ASOS' new policy
Related: Christopher Bailey sells his Burberry shares


Most Popular

Advertisement

MORE, MORE, MORE

Versace AW17 live

Versace AW17 live

Watch the Versace Autumn Winter 2017 runway show live from Milan Fashion Week

Wanderlust charity

Wanderlust charity

Tengku Chanela Jamidah, Amelia Henderson and Heidi Nazarudin join the brand's founder Jenn Low in celebrating International Women's Day

LVMH 2017 shortlist

LVMH 2017 shortlist

Ten menswear designers, nine womenswear designers and two unisex collection designers were chosen

ELLE Instagram
Best of Gucci AW17

Best of Gucci AW17

Highlights from the Gucci show include a glittery chainmail-like bodysuit, floral suits for both genders and Tom Hiddleston (for both genders)

Advertisement
Gucci AW17 live

Gucci AW17 live

Watch the Gucci Autumn Winter 2017 runway show live from Milan Fashion Week

Longines calendar

Longines calendar

An interactive calendar for every single day of the year takes you back to a Longines milestone

ASNTM: Shikin Gomez

ASNTM: Shikin Gomez

This KL Fashion Week regular talks about her favourite Malaysian sweets, Beyoncé and how she's often mistaken as unfriendly

ELLE Instagram