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Last updated: October 10, 2012 12:13 pm
The appointment, revealed by the Financial Times on Tuesday, was confirmed by Asos on Wednesday. Ms Bostock, who officially left M&S last week, will join the company and its board in January.
Asos also confirmed that Rob Bready, product director, would leave Asos as part of the shake-up. The group had previously denied that he was leaving the company, despite his sale of £2.6m-worth of Asos shares in July. Nick Robertson, chief executive, will continue in his role.
Asos said Ms Bostock would join as executive director product and trading. It said Mr Bready, who had been with the company for seven years was leaving “to pursue fresh challenges”.
Shares in Asos rose 4p to £22.90 in early trade.
Ms Bostock has been courted by Asos for more than a year because of her experience at a big company, which the fast-growing online retailer hopes will prepare it for its next stage of development.
Asos has grown rapidly since it was founded with the name As Seen on Screen more than a decade ago. Last year, it had sales of almost £500m, and is expanding aggressively outside of the UK.
As one of the most influential women in British fashion, Ms Bostock brings experience of the supply chain and retail systems. She is also familiar with all the complexities of operating a large-volume clothing business.
Ms Bostock, who worked for George at Asda and Next before joining M&S, also has knowledge of the value clothing market. Asos has recently refocused on its core 20-something fashionable customer, and sharpened its pricing, which has bolstered sales in its home market.
Mr Robertson said: “We are fortunate to have Kate bring us her wealth of experience from some of the biggest names in retailing as we strengthen our retail disciplines and put in place the structures needed to manage the next phase of our growth.”
Ms Bostock said: “Asos is a phenomenon and I’m in awe of the story. With its unique mix of own-label and fashion forward brands delivered online and increasingly through mobile, the potential for Asos globally is huge. I’m very excited to be joining at such a time of immense opportunity”.
The Financial Times revealed last November that Ms Bostock was being courted by Asos. It also revealed in July that Ms Bostock was to leave her role as head of all non-food retailing at M&S.
Kate Bostock was placed with Asos by headhunter Flint Hyde.
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