Big interview: Missguided managing director Nitin Passi. Online fashion entrepreneur Nitin Passi on Missguided's mission to hit £100 million in turnover this year and the battle it faces to build an international brand without a store portfolio.
Fashion e-tailer Missguided recently announced turnover of £55 million for the 12 months to March 2013, but through international expansion, localisation and greater customer personalisation the business is aiming for £100 million turnover in the current financial year. The UK online fashion retailer, which has a core customer base of women aged 16 to 35 and can look to former Pussycat Doll and X-Factor judge Nicole Scherzinger as a brand ambassador, is launching websites in Germany and Sweden in 2014 following the recent unveiling of a French language portal, and Australian and US sites last year. "Expanding internationally is a big step for any business but we're confident that it's the right direction for us," he explained.
Iwritebrief3. How Missguided Founder Nitin Passi Created an $80 Million Business in Five Years. Nitin Passi founded Missguided, the U.K. based fast fashion retailer, at the height of the 2008 recession -- an awfully good time to launch a value-focused retail venture online.
(Gilt Groupe and the Outnet took off the same year.) Now, five years after launch, Missguided has grown into an $80 million dollar business rapidly expanding beyond its Brit borders, first to the U.S., with plans for France, Germany and Sweden to follow in 2015. Yet Passi had very little business experience when he launched the site on his own. So how did he do it? We hopped on the phone with Passi to get the full story, learning about his early mistakes in marketing and how he developed one of the fastest supply chains in the business. I was hoping you could start by talking about your previous business experience. Before Missguided, I didn't necessarily have that much business experience. Why did you want to start Missguided in the first place? How did you get it off the ground?
Will Missguided's new Manchester headquarters be 'the coolest office in the world?' Nitin Passi plans to travel to the launch party of Missguided’s new headquarters in his own helicopter, landing on the rooftop. If all ambitious design plans go ahead, he and his 210 staff will be moving into one of the most innovative and mind-blowing offices on the planet. In just over two months’ time, Mr Passi’s Missguided will find out if it is punching alongside the likes of Google and other big boys when it comes to fun and lively work spaces. With tunnels, floating meeting rooms, swings, arcade games, spiral staircases, a money tree, an indoor and outdoor garden and a dancefloor, bar and DJ booth, Mr Passi might not be disappointed. Throw in changing rooms, a living room, an underground car park, showers, a canteen with a pop-up food theme, two Lamborghini supercars, a helicopter and pad, and it could well become at least the best office in Manchester, if not the UK.
Yes, Missguided, founded in 2009, is on the move – and is not short of ambition. “Our staff will love the new place. Uk.businessinsider. Missguided preparing for international expansion. Missguided has formed a new logistics partnership to cope with increasing consumer demand.
The fast fashion e-tailer is maturing its operations in anticipation of further expansion, following over six years of rapid growth, which has seen the business develop from a start-up to one of the UK’s largest women’s online retailers. The business is bolstering operations through a new logistics partnership with Norbert Dentressangle and upsizing its Manchester base, which has served as the Missguided headquarters for almost 3 years. The online retailer has experienced unprecedented growth since launch in 2009 introducing two partnerships with global pop-star Nicole Scherzinger as well as inaugural Plus-size and Active wear collections in the last year alone – attributing to a double digit growth of the business. This year will also see Missguided transfer to a new office,e and open a new fulfilment centre the following year as the company out-grows its current facilities. Will Missguided's new Manchester headquarters be 'the coolest office in the world?'
Faster fashion: ‘If a trend comes, we need to have it on our site in under a week’ There is a fashion that fashion likes to ignore.
Here is one of its imaginary clothes rails: a pair of crocheted white shorts, a fringed suedette jacket. Flick, flick. A maxi skirt slashed to the thigh, tops with backs or fronts cut out. Each item costs £20 or less and its main ingredient lies somewhere between 95% viscose and 100% polyester. Fashion’s wardens do not like to acknowledge these clothes, which live mostly in exile from Vogue and the highbrow style magazines. The figures are impressive. Missguided’s office, on an industrial estate on the edge of Salford, is full of empty chairs, soon to be occupied. “I did the interiors. Big interview - Big interview: Missguided managing director Nitin Passi. Online fashion entrepreneur Nitin Passi on Missguided's mission to hit £100 million in turnover this year and the battle it faces to build an international brand without a store portfolio.
Fashion e-tailer Missguided recently announced turnover of £55 million for the 12 months to March 2013, but through international expansion, localisation and greater customer personalisation the business is aiming for £100 million turnover in the current financial year. The UK online fashion retailer, which has a core customer base of women aged 16 to 35 and can look to former Pussycat Doll and X-Factor judge Nicole Scherzinger as a brand ambassador, is launching websites in Germany and Sweden in 2014 following the recent unveiling of a French language portal, and Australian and US sites last year.
"Expanding internationally is a big step for any business but we're confident that it's the right direction for us," he explained. Analyst insight (1) Analyst insight (2) Analyst insight (3) Analyst insight (4) Analyst insight (5) Analyst insight (6) Analyst insight (7) Analyst insight (8) Analyst insight (9) Analyst insight (10) Analyst insight (11) Analyst insight (12) Analyst insight (13) Analyst insight (14) Analyst insight (15) Analyst insight. Fashion retailers get personal. Analyst insight.