// Asos shutters magazine business after 12 years
// In February 2018, Asos celebrated its 100th issue and said it reached 700,000 readers
Asos has announced that its magazine business has come to an end due to the change in consumer habits.
The online fashion retailer has one of the UK’s most widely-read fashion magazines by circulation and said its autumn issue would be its last, Vogue Business reported.
The quarterly unisex magazine was first founded in 2007 as a free publication for UK subscribers of Asos Premier, a £9.95 yearly subscription service that included a free next-day delivery service.
READ MORE:
- Asos profits dive 68% despite sales smashing £2.7bn
- Asos Marketplace to improve charity boutique concept
- Asos reduces return costs following customer demand
“As consumer habits change, we are re-focusing our efforts on the channels and media that are most meaningful to our 20-something customers,” a spokesperson for the retailer said, adding that it would “prioritise social-first content”.
In February 2018, Asos celebrated its 100th issue and said it reached 700,000 readers.
Last year, Asos’ share value dropped 40 per cent, and it has also had a strenuous 2019 after issuing a third profit warning not long ago.
In the year ending August 2019, Asos’ profits plummeted 68 per cent to £33.1 million.
The retailer has also faced delivery issues at its Berlin and Atlanta warehouses.
Meanwhile, Asos chief executive Nick Beighton has described the current consumer environment as “unsettled”, with consumers increasingly worried about sustainability and Brexit.
Click here to sign up to Retail Gazette‘s free daily email newsletter
