Asos: Shein is doubling down in Europe and UK after a setback in the US; limited room to increase prices due to lack of brand equity. Landsec: Weaker-than-expected profit should be partly balanced bysolid rental growth; Push towards a higher-quality mix will be expensive. Vinfast: Struggling to replicate domestic success globally; facing challenges competing with Tesla and Chinese EVs without price advantages.

After interviewing a number of executive, Yanmei Tang, Analyst at Third Bridge made a series of remarks regarding Asos. These are informed by insights from industry experts: The biggest threat to Asos right now is Shein, which is stepping up its expansion in Europe and the UK, after facing regulatory setbacks in the US. Third Bridge experts say Shein’s faster trend response and lower prices put it in direct competition with Asos’s own-brand ranges, which target the same price-sensitive shoppers.

Shein’s setbacks in the US do not necessarily translate into an opportunity for Asos. Third Bridge experts say Asos is unlikely to capture meaningful market share in the US because it cannot match the speed or localised insight that drove Shein’s rise.

Asos’s Test & React model has delivered progress, but the company still faces limits in scaling it. Supply chain complexity and slower coordination across regions make it difficult for Asos to match the tight integration of Shein’s manufacturing base in China.

All of this comes as Asos runs on thin margins and faces rising cost pressure. Third Bridge experts say the company has limited room to raise prices to offset these pressures because it lacks the brand equity and premium positioning needed to justify higher prices.

Asos's direct US tariff exposure remains modest due to its low US penetration, partner-led sales and limited own-brand imports.

In the financial space, Max Harper, Analyst at Third Bridge made a series of remarks regarding Landsec: Weaker-than-expected profit should be partly balanced by solid rental growth and some guidance upgrades.

Landsec posted a 60% year-on-year drop in pretax profit to GBP 98m, short of the GBP 274.2m expected. The miss mainly reflects capital recycling of low-return assets and losses on disposals. Rental income was decent, rising 5.2%, while occupancy ticked up to 97.7%, close to a ten-year high.

The outlook looks a little brighter. Landsec has lifted its rental income growth target to 4 to 5% by 2026, nudged its 2030 EPS goal up to around c62p, and now expects net debt to EBITDA to fall below 7x within two years, vs its previous target of 8x.

Our experts suggest Landsec’s push toward a higher-quality mix of retail, residential and top-tier offices will be expensive, but should leave the business better placed for the long run vs similar landlords such as British Land.

In the EV space, Izabella Yan, VP, Sector Analysts at Third Bridge made a series of remarks regarding Vinfast.

Third Bridge experts say VinFast has struggled to replicate its domestic success globally. The company has shifted its focus from the US and Europe to other Asian markets but faces similar challenges competing with Tesla and Chinese EVs, with its premium pricing a major hurdle.

In Vietnam, VinFast remains the market leader in its domestic market. However, high vehicle prices and a lack of charging infrastructure continue to slow electric vehicle adoption, leaving the country trailing regional leaders such as Thailand and Indonesia. Third Bridge experts say complex market entry barriers and inconsistent regulatory incentives are also weighing on growth.