Clothing retailer ASOS have revealed plans for an accelerated investment program designed to IT and warehouse funding to £68 million within the year.

The announcement follows a statement in October which detailed plans to invest £110 million in IT and logistics over the next two years.

The move to increase IT spending and logistics comes as ASOS reported increased revenues which the company attributed from technology investment.

The cloths retailer will now increase the speed of the investment programme focused in the UK and Germany, with the £68 million investment replacing original plans for £55 million in 2014.

Nick Robertson, CEO of ASOS, said in a trading statement: “this investment will increase our sales capacity to c£2.5 billion per annum, over £1 billion higher than previous guidance.”

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