ASOS launches ventures in Russia and China as profits jump 19%

ASOS Nick Robertson, Chief launched the long-term incentive plan of retailer 40 million pounds for executives. Linda Nylind photography for the Guardian

Online clothing retailer Asos is launching businesses in Russia and China and is planning a new ￡ 40 m "tax efficient" pay deal for its top staff 24.

The retailer, which has 6 million customers in the United Kingdom, us, France, Germany and Australia – announced the expansion as it reported a 19 percent increase in interim profits and a 33 percent jump in sales of 360 million pounds.

The new Chinese-language site, due in October, will cost up to ￡ 6 million for the launch, including a distribution hub with 10% of the current stock of Asos.

A new website is launching in Russia on Wednesday. ASOS added 1.7 million new customers in the last year, including nearly 400,000 in Britain for 2.5 million, although the average amount spent fell 8% to ￡60,30.

UK sales were up 26% to ￡137. 6 m, with international sales up to 39% to ￡214. 7 m over the past six months compared to a year earlier.

It launched a new bonus scheme for top staff, based on a sales target of ￡ 1 billion by 2015. If shares continue to rise – they doubled last year – the incentive plan bonus of new long term may be higher than the ￡ 40 m worth at current prices. 24 senior staff have invested a combined ￡ 5 m to be included in the schema.

Chief Executive Nick Robertson said it was an "efficient system of taxation". Staff would be entitled to significant sales entrepreneurs Share if the targets are hit. He added: "we want to be truly global. We cannot be truly global unless we are in China, and this is the beginning of that journey. "

Elsewhere, the Commerce of the United States was the fastest growing, with American customers register hit 1 m for the first time.

The thrust of the United States was also aided by First Lady Michelle Obama, who is a customer of Asos, after she wore a red dress and white control along the presidential campaign trail last year.

A picture of her in the dress hugging President Obama became the image most shared on Facebook and Twitter, bringing clients flooding the Asos website to buy it.

Robertson said: "certainly helps to have the odd celebrity client and having a dress featured in one of the most talked about online picture is always useful."

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