LONDON (Thomson Financial) - Internet fashion retailer ASOS Plc. will launch
an online discount operation in September, with the aim of doubling its turnover
within the next three years, according to the Sunday Times.
The AIM-listed company is eyeing the 2.7 billion pound market currently
dominated by TK Maxx Plc, part of TJX Companies Inc. It will sell brand names at
a 75 percent discount, looking to build up to 300 brands.
Separately, TK Maxx said it will open more than 100 home furnishings stores
over the next three years to cater for cash-conscious customers, according to
the Mail on Sunday.
lorraine.turner@thomsonreuters.com
lht/ak
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