Between 2012 and 2023, British online fashion retailer ASOS more than quadrupled its worldwide revenue and reached over 3.5 billion British pounds. In 2024, the company saw its annual revenue decrease to below the three billion pound mark. ASOS wins over the EU market ASOS’s revenue growth is paralleled with its expansion of its shopper base. Even though the UK remains to be the most lucrative region where ASOS generates the highest retail sales, the British fashion e-retailer increased its activity in the EU market at an impressive rate. From 2014 to 2023, ASOS recorded significant growth each year in retail sales across the European Union and stood out amongst other key markets. In the most recently recorded year, ASOS recorded nearly one billion pounds in retail sales in the EU. ASOS remains online-only In the current fashion retail environment where many high street retailers are going multichannel, ASOS still persists in its pureplay strategy. In 2023, asos.com net e-commerce sales in the UK put the multi-brand retailer in the same league with brick and mortar retailers’ online platforms with over 1.1 billion British pounds worth of net sales in the fashion segment.

Originally an online marketplace for things seen on television, hence the name ‘AsSeenOnScreen’, ASOS transitioned in the mid-2000s to an online retailer selling all types of apparel. It...

The online revenue of asos.com amounted to US$3,528.2m in 2024. Discover eCommerce insights, including sales development, shopping cart size, and many more.

asos.com, operated by ASOS.com, Ltd., is an internationally-focused online store that generates eCommerce net sales primarily in the United Kingdom as well as in the United States and France. With regards to the product range, asos.com achieves the greatest part of its eCommerce net sales in the “Fashion” category. Furthermore, products from the “Furniture & Appliances” category are part of the offer. The online store was launched in 2000. *Figures from this year on are forecasts.

British online fashion retailer ASOS Plc invested 195 million British pounds in marketing in its latest financial year (September 2022 to August 2023). This figure marked an decrease of around 13 percent compared to the previous financial year.

ASOS

ASOS is an online fashion and beauty retailer headquartered in London. Founded in 2000 as a platform for celebrity clothing dupes, the company now sells a mix of over 90 thousand products from third-party brands and various in-house labels. Seeing that its expansive product portfolio caters to young adults with diverse fashion styles and budgets, it comes as no surprise that ASOS’s revenue and customer base have grown for over two decades. With a brand value of nearly a billion U.S. dollars, the e-retailer also ranks among the most popular retailers on the British internet.

An online marketing trailblazer

ASOS was voted the UK company with the most effective digital marketing strategy of 2020. Prior to that, the online retail business was also crowned ‘Brand of the Year’ at Marketing Week’s Masters Awards, outperforming household names such as Ikea and the Guardian. Companies from around the world look up to the British pure play fashion retailer for marketing inspiration, as ASOS effectively harnesses digital and social marketing channels with a focus on trends and inclusivity. In order to connect with audiences, the brand also launched the ASOS Insiders influencer program, which involves a network of content creators with different fashion styles promoting the brand’s products on sponsored social media accounts and the ASOS website. Customers can also use the hashtag #asseenonme to showcase their style and potentially be reposted by the brand.

The online revenue of asos.de amounted to US$120m in 2020. Discover eCommerce insights, including sales development, shopping cart size, and many more.

In 2022, the brand value of British online fashion and cosmetics retailer ASOS stood at 974 million U.S. dollars, down roughly 65 percent from an estimated 2.8 billion in 2021. This fall took the brand from place 27 in 2021 to place 62 in 2022 in the ranking of most valuable UK brands.

ASOS: a global fashion heavyweight

ASOS is among the 10 most valuable apparel brands worldwide, competing with the likes of Nike, Adidas, and Zara. Initially catering to the UK market only, the London-based retailer has since expanded its online business and influence across the globe. In 2020, ASOS reported over 23 million active customers, many of whom were shopping from the European Union. In addition to soaring user numbers and ever-increasing sales figures, ASOS’s global revenue has also been skyrocketing over the past few years. The company generated more than 3.2 billion British pounds in 2020, a record sum that ASOS mainly contributed to its marketing efforts.

Pure play is here to stay

Unlike other e-commerce fashion giants such as Zalando, which opened outlet locations throughout Germany in the recent past, ASOS remains a pure play business. The company continues to sell its fashion and beauty products exclusively online, a digital focus that is playing off in today’s fast-paced retail landscape. In the year following the onset of the pandemic, the number of visits to asos.com has not fallen below 65 million per month, and in November 2020, visitor counts even surpassed the 100-million mark. ASOS’s target audience are tech-savvy 20-something fashion lovers who are more likely to shop online than any generation before them, and even though many consumers have started to return to brick-and-mortar stores, ASOS’s unique online sales approach will likely stand the test of time.

The online revenue of asos.fr amounted to US$282m in 2020. Discover eCommerce insights, including sales development, shopping cart size, and many more.

Facebook and YouTube were the top social media traffic referrers to ASOS, accounting for approximately 14 percent and 28 percent, respectively, of referrals to the UK online marketplace in December 2023.

According to Cognitive Market Research, the global garment manufacturing market size will be USD XX million in 2024. It will evolve at a compound annual growth rate (CAGR) of 8.5% between 2024 and 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD XX million in 2024 and will proceed at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD XX million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD XX million in 2024 and will progress at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD XX million in 2024 and will scale at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.
Middle East & Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD XX million in 2024 and will climb at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
The women category is the fastest-growing application segment of the garment manufacturing industry.

Market Dynamics of Garment Manufacturing Market

Key Drivers for Garment Manufacturing Market

Increased Consumer Demand for Fast Fashion to Facilitate Market Growth

The fast fashion industry has revolutionized the garment manufacturing sector by providing trendy and affordable clothing with rapid turnaround times. Consumers, especially younger generations, prefer frequently updated fashion collections, which leads to a surge in demand for high-volume, low-cost garment production. Fast fashion brands like Zara and H&M are known for quickly translating runway trends into mass-market apparel, enabling consumers to access the latest styles at affordable prices. The fast fashion trend fuels continuous production, increasing both the volume and frequency of orders. This constant demand puts pressure on manufacturers to reduce lead times, adopt automation, and optimize sourcing strategies. The shift towards quick fashion turnover is also promoting innovation in materials and technologies, such as digital pattern-making, to further accelerate production.

Growth of E-commerce and Online Retail Platforms to Strengthen Market Share

The proliferation of online shopping has drastically boosted the market demand for garment manufacturing. The convenience of buying clothes online, coupled with a broad selection of products, has transformed the retail landscape. Major platforms like Amazon, Alibaba, and fashion-specific sites such as ASOS and Fashion Nova have widened the reach of garment manufacturers. This shift has created new opportunities for manufacturers to reach global consumers without the need for physical retail stores. Thus, manufacturers are increasingly adopting digital platforms and tools to manage inventory, track demand in real time, and ensure efficient distribution. Besides, online sales trends give manufacturers direct insights into customer preferences, helping them adjust production accordingly. E-commerce has also heightened the competition in terms of price and delivery speed, encouraging manufacturers to optimize logistics and embrace direct-to-consumer (DTC) models.

Restraint Factor for the Garment Manufacturing Market

Rising Labor and Production Costs in Apparel Manufacturing to Limit Market Expansion

One of the major restraints in the garment manufacturing market is the elevated cost of labor and production, especially in key manufacturing hubs like China, Bangladesh, and Vietnam. As these countries experience economic growth, wages for workers in garment factories have steadily risen. Moreover, the global prices of raw materials, such as cotton, wool, and synthetic fibers, are also subject to fluctuations, often due to environmental factors and market supply demand. Rising labor and production costs directly affect the profit margins of garment manufacturers, particularly those operating on tight budgets, such as fast fashion companies. These increased costs are either passed on to consumers through higher prices or absorbed by manufacturers, leading to reduced profitability.

Impact of Covid-19 on the Garment Manufacturing Market

The COVID-19 pandemic had a profound impact on the garment manufacturing market, disrupting glo...

Get the sample copy of Plus Size Womens Clothing Market Report 2025 (Global Edition) which includes data such as Market Size, Share, Growth, CAGR, Forecast, Revenue, list of Plus Size Womens Clothing Companies (Mango Brand, Forever 21, Philips Van Heusan Corporation, Hennes & Mauritz AB Ralph Lauren Corporation, Hanes Brand Inc Eloquii, Carmakoma, Asos Curve, Adrianna Papell, American Rag, Fashion to Figure, Torrid, Lane Bryant, Ashley Stewart, Monif C., Evans, Lucky Brand Plus, City Chic, Old Navy Plus, Pure Energy), Market Segmented by Type (Below 15 Years, 15 -24 Years, 25-45 Years, 46-60 Years, Above 60 Years), by Application (Online Channel, Hypermarkets, Specialty Stores, Others)

According to Cognitive Market Research, The Global Fast Fashion market size is USD 99.6 billion in 2023 and will grow and expand at a growth rate or compound annual growth rate (CAGR) of 8.2% from 2023 to 2030.

The demand for Fast Fashion is rising due to the higher media innovations, higher quick fashion expenditure, a growing young population, and the expansion of developing countries.
Demand for adult wear remains higher in the Fast Fashion market.
The Women category held the highest Fast Fashion market revenue share in 2023.
North America will continue to lead, whereas the Asia Pacific Fast Fashion market will experience the strongest growth until 2030.

Increased Social Media Adoption to Provide Viable Market Output

Increasing social media usage will likely fuel the fast fashion industry throughout the forecast period. Around the world, social media usage is continuously expanding. Through their social feed, social media outlets link influencers & fashion icons to people, and people learn about fashion trends and other aspects. These individuals then utilize social media to make transactions as well.

By April 2022, ads on any existing platform will be virtually 100% inescapable. While apps were first designed as a social network for connecting with friends, they have since evolved into a more curated, ad-targeted approach. Instagram, for example, rearranged its familiar user experience to replace creator portals with algorithm-based commerce. Similar approaches are possible.

(Source:www.searchenginejournal.com/10-new-social-media-platforms-apps-to-have-on-your-radar/457629/)

Social media is always pushing downloadable stuff to its users. Zara, Urban Outfitters, and SHEIN, among the most popular fashion retailers, replicate new pieces from big fashion designers produced inexpensively for the public, manufacturing whole new stock for their stores virtually every week. Growth in social media and new integrated product offers will favorably impact the quick fashion sector.

Technological Advancements in VR And AR to Propel Market Growth

Fashion garment manufacturers are investing in Virtual Reality (VR) and Augmented Reality (AR) technologies to merge the real and online selling worlds.

For example, in June 2019, the US retail giant Amazon released a virtual fitting room app, allowing customers to try on garments before purchasing them. In addition, online fashion store ASOS developed a 'Virtual Catwalk,' a video service that allows customers to see apparel products on moving models using augmented reality.

(Source:press.aboutamazon.com/2022/6/amazon-fashion-introduces-a-more-convenient-way-to-shop-with-virtual-try-on-for-shoes)

Customers may virtually test on clothes thanks to a customized measuring feature that uses AR technology. This makes online purchasing more engaging, dynamic, and enjoyable. It also assists in attracting more traditional customers to online shopping sites. Buyers may view the product themselves before purchasing it using these technologies.

Market Dynamics of Fast Fashion

Inadequate Compensation To Workers Hinders Market Growth

Employees in the fashion industry, especially women (who constitute about 80% of all garment workers worldwide), are underpaid. Women are also susceptible to workplace harassment. In addition, female garment workers in Asia's main fast fashion firms face abuse and harassment, including poor working conditions, inadequate compensation, and overtime, all leading to inefficiency. As a result, most individuals will not want to work in the fashion industry. As a result, inadequate compensation and working conditions impede the expansion of the Fast Fashion Market.

Impacted By Impact of COVID-19 on the Fast Fashion Market

Growth in the historical era was driven by increased foreign direct investments, growth in developing markets, expansion in media development, technological advancements, and urbanization. The influence of COVID-19, counterfeit products, reductions in free trade, severe competition, and increased inventory levels had a detrimental impact on growth throughout the historical era. Introduction of Fast Fashion

Higher media innovations, higher quick fashion expenditure, a growing young population, and the expansion of developing countries are expected to drive growth in the Global quick Fashion Market. The expanding young population'...

Clothing, footwear and leather goods retailing revenue is expected to contract at a compound annual rate of 8.4% over the five years through 2024 due to challenging economic conditions. Nevertheless, the industry has benefitted from the steep climb in the number of photos and videos posted online, Europeans wanting to look chic and fast affordable fashion. At the same time, the luxury market has been propelled by high inbound tourism and travellers taking advantage of duty-free shopping and differences in exchange rates making some goods cheaper abroad than at home. Even though revenue is rising, retailers have faced several challenges. Online-only retailers like ASOS and Zalando have grown in popularity thanks to their versatility, siphoning sales away from the high street, while luxury boutiques have come up against rising competition from rental platforms and cheaper names mimicking designs. In the past, the fashion industry's success has relied on selling mountains of clothing at low prices, but this has come with devasting environmental and social effects and times are changing – sustainability trends are taking off. Retailers are also contending with tightening disposable incomes as the rising cost of living eats into consumers’ spending power, driving people to think twice about clicking “add to cart”. As a result, in 2024, revenue is expected to drop by 4.8% to €259.7 billion, while the average profit margin is set to reach 5.5%. Competition will remain rife in the future, but growth opportunities remain. Consumers are becoming increasingly conscious of waste, choosing to upcycle and repair products instead of buying new ones and these trends will accelerate. Tourism numbers will continue to track upwards, propelling the luxury market forward, with France set to retain its title as Europe's luxury fashion hotspot. Clothing, footwear and leather goods retailing revenue is forecast to inch upwards at a compound annual rate of 0.3% over the five years through 2029 to €264.1 billion.

Clothing, footwear and leather goods retailing revenue is expected to contract at a compound annual rate of 8.4% over the five years through 2024 due to challenging economic conditions. Nevertheless, the industry has benefitted from the steep climb in the number of photos and videos posted online, Europeans wanting to look chic and fast affordable fashion. At the same time, the luxury market has been propelled by high inbound tourism and travellers taking advantage of duty-free shopping and differences in exchange rates making some goods cheaper abroad than at home. Even though revenue is rising, retailers have faced several challenges. Online-only retailers like ASOS and Zalando have grown in popularity thanks to their versatility, siphoning sales away from the high street, while luxury boutiques have come up against rising competition from rental platforms and cheaper names mimicking designs. In the past, the fashion industry's success has relied on selling mountains of clothing at low prices, but this has come with devasting environmental and social effects and times are changing – sustainability trends are taking off. Retailers are also contending with tightening disposable incomes as the rising cost of living eats into consumers’ spending power, driving people to think twice about clicking “add to cart”. As a result, in 2024, revenue is expected to drop by 4.8% to €259.7 billion, while the average profit margin is set to reach 5.5%. Competition will remain rife in the future, but growth opportunities remain. Consumers are becoming increasingly conscious of waste, choosing to upcycle and repair products instead of buying new ones and these trends will accelerate. Tourism numbers will continue to track upwards, propelling the luxury market forward, with France set to retain its title as Europe's luxury fashion hotspot. Clothing, footwear and leather goods retailing revenue is forecast to inch upwards at a compound annual rate of 0.3% over the five years through 2029 to €264.1 billion.

Clothing retailing revenue is forecast to fall at a compound annual rate of 0.8% over the five years through 2024-25 to £47.3 billion. This decline predominantly stems from weak performance in 2020-21 thanks to the pandemic. Since then, clothing sales have been propped up by the dramatic increase in photos and videos posted online; strong demand for fast, affordable fashion; and the introduction of credit and financing services like buy-now-pay-later platforms, which have allowed consumers to better manage their budgets and splash the cash on new clothes. Despite their recent growth, clothing retailers have faced several challenges. Online-only retailers like ASOS, Shein and Temu have grown in popularity thanks to their versatility, siphoning sales away from the British high street. Further, the fashion industry's success relies on selling mountains of clothing at low prices, but this has come with devasting environmental and social effects – and times are changing. Retailers have also contended with tightening disposable incomes, with the cost-of-living crisis seeing consumers think twice before adding that new outfit to their baskets. Despite consumer confidence improving since the height of the cost-of-living crisis in 2022-23, it remains weak, limiting spending on clothing. Still, in 2024-25, revenue is expected to bump up by 1.5%. The average profit margin has inched down over the past five years thanks to discounting activity. Clothing retailers will face a tough start to 2025-26, with hikes to the National Living Wage and National Insurance contributions set to ramp up costs. Despite this, opportunities for growth remain. Sustainability remains key, with consumers embracing upcycling, rental options and resale schemes, like ITX’s buy-back initiative. Meanwhile, influencer marketing is shifting towards authenticity as consumers favour genuine engagement over polished content and social commerce is set to boom. Despite e-commerce growth, physical stores remain relevant, with brands like Uniqlo and Abercrombie expanding. AI is also transforming retail, enhancing personalisation, inventory management, and sustainability. To stay competitive, retailers are likely to innovate across digital, in-store and operational strategies. Those that fail to adapt risk not benefitting from a potentially lucrative market. Revenue in is slated to grow at a compound annual rate of 1.1% over the five years through 2029-30 to £50.1 billion, when the average industry profit margin is slated to be 5.8%, weighed down by competition and rising investment in efficiency initiatives.

About You, the fashion e-commerce retailer based in Hamburg, Germany, generated over 934 million euros in revenues in the first half of 2022. In the 2021 financial year, the company reported a revenue of 1.7 billion euros, a significant increase from the 743 million reported in 2019.

A European leader in online fashion Alongside prominent brands such as Zalando, ASOS, and Boohoo, About You is one of the leading companies in the fashion e-commerce industry in Europe. In the first half of 2022, the company boasted a total of 12.3 million active customers, a figure that has steadily increased since the company went public in 2020. On average, shoppers who used About You for their fashion purchases spent about 55 euros per order, and the latest figures reveal that the retailer is only increasing in popularity, totaling nearly 37 million orders in the first half of 2022.

The personalization trend

About You’s rising popularity is not unfounded. The brand specializes in making their users’ shopping experience an extremely personalized one through tailored product listings based on shopper preferences. Personalized product recommendations were one of the top e-commerce innovations consumers across all generations were interested in in 2023.

This statistic shows the estimated revenue growth rate of selected major public apparel retailers in the United Kingdom (UK) in the fiscal year 2017. Boohoo.com has the highest estimated increase in revenue at 34.8 percent compared to a year earlier, followed by ASOS at 24.1 percent.

Boohoo is an online-only fashion company, that has enjoyed success in the UK clothing sector since becoming active in 2006. Over the past decade, the company’s revenue has grown massively, almost reaching the two billion pound mark in 2022. By 2024, the company reached 1.8 billion pounds. The retailer specializes in clothing lines for young consumers aged 16-30, and sells its own-brand products. Large user base around the globe Boohoo is a pure player and has presence in markets outside the UK. Over the years, the retailer has exponentially expanded its user base, with millions of active users on its platform worldwide. In the 2023 financial year, the number of Boohoo shoppers was 18 million. Online, digital and social Boohoo is the kind of retailer that many high street clothing brands that have long been in the game is fearful of: it’s young, hip, and digital and already changing the face of fashion, taking it from store to the screen. In 2023, boohoo.com ranked among the leading UK fashion websites, based on its Share of Voice score. Boohoo was surpassed by Amazon, ASOS, another online-only fashion brand, and the multichannel fast-fashion retailer Next.

Since 2015, sales revenue of Farfetch has grown at an exponential level, going from a humble 142.3 million to just over 2.32 billion U.S. dollars. An online-only retail platform, Farfetch is a merchandiser of luxury clothing, jewelry, and accessories of 1,300 brands, both new and pre-owned.

A truly global retail platform Originally founded in 2007 by the Portuguese business person José Neves, Farfetch is a United Kingdom (UK) based e-commerce store for luxury fashion lovers. In 2021, the platform generated the largest share of its annual revenue from Europe, the Middle East and Africa (EMEA). Farfetch, which sells stock from brands around the globe, has their products available for delivery in a total of 190 countries worldwide.

Online-only fashion retailers In 2022, the UK boasted a total 45 million e-commerce users in the apparel segment alone, and the number only grows when including the footwear, bags and accessories segments. The popularity of online fashion retailers is unquestionable. Besides Farfetch, other popular fashion online-only stores include ASOS and Shein, which lead in the fast fashion industry as opposed to luxury fashion.