In the quarter, we increased our position in AO World plc (LSE:AO.). AO World is the UK’s leading online retailer of major domestic appliances. The company has more than 10% share of the overall UK market and sets itself apart from its competitors through its proprietary software, optimized supply chain, and stellar customer service. We believe AO is positioned to benefit over the next several years from a secular move to online buying, combined with the company’s comparable pricing, better selection and outstanding customer service. We believe the company will be successful in growing its share of the UK market, expanding into the larger German market, and entering new Western European markets. (Ashim Mehra)
From Ron Baron (Trades, Portfolio)’s Baron Growth Fund Q4 2014 Quarterly Report.
