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Nigel TAYLOR Published
January 17, 2025
ASOS is big and the online fashion retailer is expected to get much bigger in the next three-to-four years. That’s according to the firm’s first-ever economic impact report complied by Oxford Economics.
According to the report, ASOS’s contribution to UK GDP was £1.8 billion in 2025-20. And plans to reach £7 billion turnover in the next three to four years will further boost its impact in the UK, with GDP contribution estimated to increase by £2 billion-£3.8 billion.
Meanwhile, up to 25,000 new jobs could be created on the back of this additional GDP contribution, bringing the total number of jobs supported by ASOS in the UK to around 60,000.
COO Mat Dunn said: “Since ASOS began over two decades ago, we’ve grown from a tech start-up with just a handful of employees to become a truly global business, directly employing over 3,000 people.
“As we’ve grown in size and scale our economic and social impact in the UK has also dramatically changed, which is reflected in this new report.”
He added: “As we continue our journey to reach £7 billion of annual revenue, we’re looking forward to seeing how ASOS’s contribution to the UK will further grow.”