Etailer ASOS has announced that it is to remove its operations in China as the company found the business to be too costly, although it will continue to serve its customer base in the country via ASOS.com.

The company will close its Mandarin website and Nick Beighton, chief executive noted that the closure would “remove the drag on earnings and a £60 million to £70 million operating loss”.
ASOS commented saying it expects the decision to incur one-off closure costs of around £10 million.

Mr Beighton, said: “We’ll continue to do business in China. We are simply serving our growing customer base there in a more efficient, less costly manner.”