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Nick Beighton - The e-commerce pioneer who turned ASOS into an international success story
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Nottingham Business School’s Business Leaders’ Podcast
Episode 50
Nick Beighton - The e-commerce pioneer who turned ASOS into an international success story
Summary
Nick Beighton transformed ASOS into a global e-commerce powerhouse. When he walked through the front door to take up the role of Chief Finance Officer in 2009, the company was a fledgling online fashion retailer, with 200 staff and £160m of revenues. When he stepped down as Chief Executive 12 years later, the company’s workforce was 3,500-strong… and its annual revenues were just shy of £4bn.
In a special Episode 50 of the Nottingham Business School’s Business Leaders’ Podcast, Nick tells Visiting Honorary Professor Mike Sassi about the importance of values, the need for planning, and why it’s always better to use influence rather than exert control.
Introduction
Nick Beighton is one of Britain’s most celebrated e-commerce fashion executives – best known for the 12 years he spent on the board of online retailer ASOS (2009 to 2021).
He was CEO of ASOS for six years, during which time he helped turn the company into a huge global success story.
Nick was born in Nottinghamshire and started his career as a chartered accountant with KPMG, in Nottingham.
He graduated from Nottingham Trent University in 1989 after studying accounting and finance.
Nick went on to become Head of Finance at High Street retailer Matalan. He was also Chief Finance Officer at Britain’s biggest operator of late-night venues Luminar.
For 14 months up to March 2024, Nick was CEO of luxury fashion retailer Matchesfashion. He is currently chairman of the Secret Sales online fashion retailer.
KEY LEADERSHIP TAKEAWAYS FROM NICK BEIGHTON
He tells Mike Sassi…
…a leader must be the coolest person in the room when something goes wrong:
“At ASOS, when something went wrong I would say – guys, it’s just another bump in the road. It’s not failure. It’s something new we’ve learned.”
...it’s important to listen to your mum:
“[When I left school] I wanted to join the Royal Marines. My mum wasn’t blown away! So, when the opportunity came to work in an accounting office, she pushed me into it.”
…successful leaders are always willing to experiment:
“One of our values at ASOS was, never be afraid to turn left when others turn right. If it doesn’t work, you can [stop and] go again.”
…as businesses get bigger, they become less entrepreneurial:
“I was always asking [myself], how do I put entrepreneurialism into the organisation? The best ideas don’t come from the boardroom – they come from your team, and your customers.”
…having a clear purpose helps leaders inspire their staff to follow them:
“I’m an unashamed admirer of capitalism. But purpose drives profit – not the other way round. When you do this, your team understands and follows you.”
…customers want to know about a company’s values and purpose:
“At ASOS, people were wearing our clothes because they wanted to express themselves in a particular way. Customers want to be part of a brand that has something they believe in.”
…a leader must be seen to embody the company’s values:
“When your organisation gets its values right… then you, as the leader, have to adopt them. Otherwise, the organisation calls you out as being full of sh’t!”
…it’s important for leaders to build their communication skills:
“You don’t have to be an extrovert to be a leader. You can be a quiet leader. But you must be a good communicator.”
And his advice to other leaders and would-be leaders?
“Leadership is not a right, it’s a privilege. So, make sure you do something with your leadership. Don’t just sit on it. Use your influence to make change. Don’t wait to be asked what you think!”
RELATED LINKS
• There’s more about Nick Beighton on his LinkedIn profile
• There’s also more about Nick Beighton on fashion news platform Drapers
• Nick Beighton’s exit from Matchesfashion was reported in Retail Gazette
If you enjoyed this episode NBS Business Leaders’ Podcast with Nick Beighton, listen to previous shows with…
• The former Chairman and Chief Exec of Experian Sir John Peace
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