The ASX small cap with the best global expansion potential may not be tech

The outrageous success of the Afterpay Ltd (ASX: APT) has investors scrambling to find the next emerging ASX stock with global potential.

It turns out that the ASX small cap that holds the key may not be a sexy tech or fintech related start-up.

Morgan Stanley looked through its small cap universe of stocks and picked the City Chic Collective Ltd (ASX: CCX) share price as its preferred global expansion story.

The best ASX small cap global expansion opportunity

City Chic is a leading women’s plus-size apparel retailer in Australia but the broker reckons the global revenue opportunity stands at around US$60 billion.

If that is the case, the CCX share price has a lot more room to grow after its recent acquisition of UK retailer Evans…