Missguided has had a challenging year, but it continues to demonstrate the power of knowing what its customer wants.
Its partnership with ITV2’s Love Island – including selling its clothes through the programme’s official app – was a huge success, and boosted sales by 40%.
Behind the scenes, Missguided put around 100 jobs into consultation in February, citing the need to make teams leaner. In May, online CEO Gareth Jones left after just eight months in the role, followed by head of ecommerce Mark Leach in July and chief technology officer John Allen in October. But there were some key hires, including former N Brown Group merchandise director Robin Gartshore, who joined as chief trading officer in May.
In its most recent results, for the year to 26 March 2017, turnover soared 75.6% to £205.8m, driven by a rise of more than 100% in the US, France and Germany. However, Missguided made a loss after tax of £1.4m, compared with a £239,000 profit in 2016, after it invested heavily in a new warehouse in Manchester. In March, it announced a tie-up with retail group Azadea to launch in United Arab Emirates, Qatar, Saudi Arabia, Kuwait, Bahrain, Jordan, Lebanon and Egypt.