May 7, 2021
Uncategorized

Asos poised to overtake M&S in ‘seminal moment’ for UK fashion

Website’s market valuation is just £100m below its older rival and City analysts say shift in retail power is inevitable

Marks & Spencer is poised to lose its crown in the British fashion industry to its younger online rival Asos, in what is being described as a seminal moment for UK retail.

In the latest sign of traditional corporate powerhouses being overtaken by newer technology-focused firms, the market value of 17-year-old Asos is just shy of £100m below that of the 113-year-old mainstay of the UK high street. M&S has a market value of £5.08bn, compared with Asos’s £4.98bn.

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