ASOS generates $3 billion in revenue but trades at just 20% of sales, making it look cheap. The catch: it's unprofitable, in distress, and mostly dependent on the UK market. Could be a bargain acquisition or a falling knife.
ASOS is bigger than About You, right? There's $3 billion-ish top line. I mean, it's a company in stress, but it's still, with $3 billion, it's still a lot bigger than About You. And they're really cheap at the moment. So they're at 20% of top line. The market cap is 20% of top line. So it's really affordable. It's a company that smells like up for grabs, but it's also, some would say, it's a falling knife. So watch out what you're catching. This is a difficult case. It's a company in distress. But of course—
And it's also covering the UK market where both of them are not pretty well established right now.
Exactly. So conceptually, it's cheap, it's UK, it's relatively big in terms of top line. It's not profitable or it's distressed, but it's I mean, About You isn't profitable either.
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