LONDON (Reuters) – British online trend retailer ASOS is spending $forty million on a second U.S. distribution heart to assist sturdy gross sales progress in what it hopes will grow to be a serious market.
Full ownership was allowed in January, but the government tacked on a rule requiring corporations to source 30 p.c of their merchandise regionally, which discouraged many chains. Only two retailers utilized – Sweden’s IKEA and UK-primarily based footwear retailer Pavers. The provision is now beneath review as the government tries to entice more retailers to enter the market. Reuters interviewed almost two dozen online retailers, distributors and officials from U.S. and Indian companies to try to decide how some of the hottest Western clothing brands, including Abercrombie, American Eagle Outfitters Inc ( AEO.N ) and Aeropostale Inc ARO.N, ended up for sale on these web sites.
None of these U.S. chains have opened shops in … Read more