Missguided is a fast-fashion etailer targeting the 16- to 29-year old female market with a range of celebrity-inspired, affordable clothing. 

Founded by Nitin Passi in 2009, the business had been growing exceptionally rapidly, but a couple of years ago sales growth slowed dramatically with losses spiralling on the back of the dilution of Passi’s influence and poor product selection.

Firmly back in the driving seat from 2019, Passi reshaped the board and implemented a turnaround programme which included cutting marketing spend and reassessing its supplier base to improve lead times. It has also pulled out of its costly venture to open high-profile stores in the UK. 

Having since returned to investing in marketing, revenue grew in the latest financial year and the retailer is now firmly focused on ecommerce. 

Forward growth is set to be driven by personalisation and international development, with the US a key focus. Wholesale is also a key growth channel. 

In December 2021, at the end of a year impacted by the supply chain crisis and pandemic, Missguided secured a rescue deal from Alteri Investors, which acquired a 50% stake in the etailer. 

In April 2022, Passi exited the business as the company explored its “strategic options” to enter the next stage of growth.

In June 2022, Frasers Group bought Missguided out of adminstration for £20m. Frasers boss Michael Murray said: “We are delighted to secure a long-term future for Missguided, which will benefit from the strength and scale of FG’s platform and our operational excellence. Missguided’s digital-first approach to the latest trends in women’s fashion will bring additional expertise to the wider Frasers Group.”   Missguided will continue to operate as a standalone business, and will be operated by administrators “under a transitional agreement” for around eight weeks before becoming a part of the group.

However, eight weeks later, Passi returned to the Missguided business as chief executive. See strategy

Missguided has dedicated sites in the USA and Canada, Australia and New Zealand, France, Germany, Ireland, Poland and Spain, plus a pan-European site. It has also teamed up with retail group Azadea to launch stores and online in the Middle East.

Innovation rating: 2

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