The asos internet advertising company is preparing to take on the asos web marketing business in India.
The company is expected to take the reins of internet marketing after acquiring Asos in 2017.
According to reports, the deal is expected for around Rs 1,500 crore and will be finalized in a few months.
The deal includes both asos and asos advertising and marketing as well as digital, mobile, and social media.
The acquisition is expected in the next two years.
According to reports the deal will be a cash-for-digital transaction and the two companies will share profits in future.
The deal comes at a time when internet advertising has been facing a big challenge.
According the latest statistics from the market research firm Kantar Worldpanel, the digital ad market is expected shrink by nearly 30% this year.
The Asos acquisition is likely to help the assoics business in the country.
As the Asos platform offers a free online shopping experience for asos customers, as well.
The platform has already built up its digital marketing services, which includes the Assoics app and an app for users to interact with the brand.
Asos also has a huge global presence.
In 2018, it was ranked as the third most influential brand in the world with a global audience of over 50 million people.