The site offers up to 70 per cent off selected brands including French Connection, Sass and Bide, Firetrap and Arrogant Cat.
Asos hopes that the site will help it double its turnover in the next three years.
Discounts are offered on both fashion and beauty products and, although the site has gone live with only a limited number of brands, the e-tailer plans to build up the offer to about 300 brands.
Asos Red also features a diary to let customers know when particular brands will be available to buy on the site.
In the 13 weeks to June 27, Asos posted a 95 per cent jump in sales, versus an 85 per cent uplift during the same period last year. In May, Asos attracted 3.4 million visitors, a rise of 60 per cent year on year.
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