Asos eyes second hand clothing

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ONLINE fashion retailer Asos is moving into the second-hand designer clothing market after buying a minority stake in Covetique, a website that brings sellers together with buyers to exchange garments.

Asos – whose core market is selling clothes that let customers emulate the styles of celebrities including Tulisa Contostavlos, Pixie Lott and Nicole Scherzinger – has placed a member of staff on Covetique’s board to help grow the firm.

The online firm is the latest retailer to tap into the second-hand clothes market after Marks & Spencer signed a recycling deal in April with Oxfam.