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Asos: Two senior directors step down

By Huw Hughes


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Asos logo Credits: Asos

British fashion e-tailer Asos is saying goodbye to two senior directors as it rearranges its product team.

Brands director James Barron is leaving the business later this month, while menswear product director Stefan Pesticcio is exiting at the end of the year, Retail Week first reported.

Asos confirmed the two departures to FashionUnited.

The retailer is currently seeking successors for the pair from within the business. In the interim, sportswear and outdoors director Tim Phipps will oversee global brands.

The changes come as Asos continues to push forward with a turnaround strategy following a succession of losses.

Last month, Asos revealed that Q4 sales fell 12 percent year-on-year, though CEO José Antonio was upbeat and said the business has become “leaner and more resilient” in the 12 months since launching its Driving Change agenda.

Looking at Asos’ bottom line, which has been the focus of its turnaround strategy, Antonio said the company made 300 million pounds of profit improvement and cost savings, in line with its FY23 target.

Looking ahead, the business now expects earnings before interest and taxes (EBIT) for the second half to be at the bottom end of its previous guidance of between 40 million pounds and 60 million pounds.