Asos has invested in second hand designer clothing website Covetique

Covetique sells clothes, shoes and accessories from labels including Alexander McQueen, Burberry and Chanel, all in pristine condition.

Asos, which took a “significant minority stake” in the etailer, said it will offer Covetique its operational expertise to help it grow.

Asos chief executive Nick Robertson said: “Our global base of fashion-lovers, predominantly in their 20s, shop Asos own-label and our edit of brands, as well as boutique brands and previously-owned product on Asos Marketplace.

“With Covetique, we are excited to extend this offer, through a site dedicated to re-selling high-end, well-presented fashion pieces, much more accessibly priced than they would be brand new. We look forward to supporting the team with developing and further defining their position in the market.”

Covetique was founded just last year by Nicola McClafferty and Bobby Devins. It makes 15% of its turnover from overseas.