Asos lost almost a quarter of its value yesterday after a bungled warehouse overhaul knocked the online retailer’s sales growth off course and prompted its third profit warning in a year.
Investors fear one of the brightest names in retail is coming under intense pressure from rivals while its investment-hungry business model stumbles.
Asos was founded in 2000 by Nick Robertson, 51, grandson of the founder of fashion label Austin Reed, and his brother Nigel.
It listed on Aim in 2001 at 20p a share and enjoyed an explosion in sales and value as it cornered the fast-fashion market. It has 18.4 million customers, more than a billion visits to its website and employs about 4,400 people.
Yesterday’s warning sent the shares down by 636p,
