Former Asos CEO Nick Beeton says what’s next for fashion

Nick Beiton is one of the most successful people in British retail, with Asos recognized as a mid-range ወደ 3.8bn to £ 3.8bn, international fashion brand. But sometimes what he says is difficult to understand.

“You can never learn unless you make a mistake,” he commented, “and you don’t always see the future clearly.” Each response could be a line from Ted’s speech or one of Mark Zuckerberg’s letters to the world.

“I am nothing like Mark Zuckerberg,” he replied. I grew up in the East Midlands.

Like Zuckerberg, however, he developed the Noughties brand into something that millions of people use on the Internet. And like Facebook, Assos has been criticized for its impact on the wider world.

As one of the world’s largest “fast fashion” websites, Asos grew rapidly in the supply chain. But the labor force and environmental degradation in these chains has pushed consumers to think about the right cheap clothing and inflation has pushed the margins of retailers. Mismanagement fell in late May; Assos shares rose 83 percent in one year. Island of LoveSupported by fast fashion brands since 2015, it is now sponsored by eBay to promote high-end fashion. Is Fast Fashion Dying? “Sometimes you don’t judge the quality of a brand on a scoreboard” is the answer to Beighton’s riddle.

But does he really have to take some personal responsibility for the impact fashion has on the environment? “You are looking at the lens in the wrong direction,” he said. “Have you ever felt like an outsider? And I’m like, no, I’m not like. ”

An accountant, Beighton spent nearly ten years at KPMG; It was only when he joined Matalan that he moved into fashion in 1998. But in 2009, he joined Asos as chief financial officer. At the time, the company was nine years old, with less than 200 employees and group revenues of only £ 223m.

A.D. In 2015, he took over from the company’s founder, Nick Robertson, and was appointed CEO. When Beyoncé came out last year, Asos was a bubble of 12 3.9bn worth of ፣ 3.9bn from websites, more than 3,000 employees and group revenues – the “trip” that pleased Beiton, “I really didn’t care. Just like every month we get up again and go again, I didn’t know what was behind us. “

Nine months after leaving Assos, Beiton is now the chairman of a secret sale, an online outlet that plans to sell high-end brands at a reduced price and follow a similar attack strategy. Global expansion.

This time, however, he does it without checking to run a public company. He acknowledged that it was a relief. “I do not mind the test because it is good,” he said.

Speaking of e-commerce, the voice was changed from Zuckerberg to Jeff Bezos. Get out of bed to work… and I look forward to helping the secret sale stay on that journey.

Beaton took the lead at Brands during a rocky season for Brand. During his tenure as CEO, the stock price fluctuated by more than £ 75 in 2018, as the company struggled with new warehouses in Germany and the US and increased competition in Bohoo, Missguided and competition to £ 24.

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The epidemic has changed its fortunes. Shares rose to more than £ 57 million in April 2021 due to the closure of online transactions and boring teenagers stuck in their dormitories and moved to Tick Talk and Instagram. Then there was the epidemic of supply chain problems, increased production costs and increased shipping costs. Annual £ 10-Premier subscription has had a huge impact on the company that offers free returns and next day delivery.

At the same time, Beaton said it was interested in stepping down in October, and Assos has issued a profit margin warning that by 2022, pre-tax profits will be “very low” a year ago. Ian Dyson, the newly-elected chairman, said Beiton was stepping down because “he felt he had to commit to another six years or more for our next strategy and this was not something he could not do.” He added that he did not feel “in his heart.” You could say the “trip” was enough.

Beiton’s departure is a clear blow to Assos. Ramos Calamonte has not yet been named – but Beiton has been the subject of “recent media coverage” of the “internal candidate” for “Brand wise choice” – “smart and attractive, but a humble leader.” I guess later, when I asked the press agent, Ramos Calamonte, to confirm that Baito was actually speaking, he said, “I was told that Nick would prefer to answer.”

Beaton’s greatest achievement was perhaps getting into the minds of his staff and clients. It has developed policies such as abortion, parental leave for men and women, and menopause, which has been widely praised by the press and social media. (“Those were all things, people, we need to help you instantly in your life.

Although Assos’ liberation policy has been criticized for encouraging waste, he said it was “the first door to fashion loyalty.”

But then again, maybe this is exactly the ability to make such an air-conditioned claim – talking like a 20-something fashionista rather than a 50-something accountant – this is the key to his success. He prefers to tell his colleagues, “You stand in the shoes of the people who make the product, and you encourage them, and you give them authority to fly.”

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