AO World plc (LSE:AO, Financial) is the U.K.'s leading online retailer of major domestic appliances (e.g., refrigerators, ovens, dishwashers), with a 10% market share. The company is positioned to benefit over the next several years by a secular move to online buying, coupled with expansion of its product line and entry into new geographic markets. It has unique supply chain capabilities and a maniacal focus on customer service. We believe AO will grow substantially over the next few years as it increases its share of the U.K. market, and enters the German and Western European markets. (Ashim Mehra)
From Baron Funds' first quarter 2014 commentary.