Fast fashion brand Missguided has made a huge impact on the womenswear market in just seven years. Drapers looks back at the rise of the Manchester-based firm.
Missguided has become a £117m turnover company with a thriving international ecommerce business and its first retail store in just seven years. Further expansion will come through an aggressive bricks-and-mortar rollout strategy and a new menswear brand set to launch in 2017. So how did it get to where it is today?
Image 1 Missguided
Founder and chief executive Nitin Passi establishes a womenswear fast fashion etailer armed with a £50,000 loan, a £3,000 website and £5,000 worth of stock. Turnover hits £100,000 by November of that year.
The fast fashion brand is named Best New Etailer in the 2011 Drapers Etail Awards
The firm announces sales reached £14.7m in 2011
Missguided announces it has employed its own design team for the first time to develop its in-house product offer for autumn 12
Missguided embarks on international expansion with new sites in Australia and the US
Missguided launches a plus-size range called Missguided+
Missguided taps into the growth of the sportswear market with a range of activewear for spring 15
Missguided opens its first concession in US retailer Nordstrom
The brand makes its first UK move into bricks-and-mortar retail with a concession in Selfridges in Manchester’s Trafford Centre
Missguided launches a range of category extensions for autumn 15, including its first lingerie and nightwear collection and a premium sub-brand called Peace & Love
The company moves into new 45,000 sq ft headquarters in Trafford Park, Manchester, complete with “selfie tunnel”, arcade games, swings and indoor trees
Hires a new retail director, Andy Marsh, and is working with property consultant and former Abercrombie & Fitch UK property boss Richard Collyer on a plan to roll out UK stores
Launches a Tinder-style transactional app, available for download in the UK
Missguided is named Best Pureplay Etailer (£50m+ turnover) at the Drapers Digital Awards. Launches concessions in Spanish department store group El Corte Inglés
Launches its first maternity collection exclusively through Asos
Opens debut store at Westfield Stratford City in east London as the first step in an ambitious bricks-and-mortar expansion plan. Another four stores are set to open before April 2017
Founder chief executive Nitin Passi confirms he will launch new menswear label Mennace for spring 17
Missguided posts record revenue for the year to 31 March – sales jumped 34% to £117m