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ASOS continues its online retail takeover by buying a massive stake of upscale resale site Covetique. For the uninitiated, ASOS already has (a) an in-house label that includes regular and plus size, men's and women's, (b) an insanely large selection of predominately British high street labels like River Island and Oasis, (c) a more curated selection designer pieces like Orla Kiely and Rachel Comey, and (d) the previously owned sales emporium Marketplace.
Covetique on the other hand introduces luxury fashion houses into the mix—at a huge mark down, of course. With twentysomethings as ASOS's primary market, affordability is a big deal. If its going to have Alexander McQueen, Chanel, Prada, Jil Sander, etc., then well edited but previously owned apparel, shoes, accessories, and bags is one way to go. And the pricing is pretty phenomenal with the majority of designer goods falling under $300 (even shoes!). And the best news? Covetique ships to the US.
· ASOS Continues Multi-Channeled Branding Blitz With Charlotte Free and Azealia Banks [Racked]
· Millionaire Winklevoss Twins Invest in Sale Shopping Site [Racked]