Missguided enjoys 'record' revenue growth
Online fashion retailer Missguided saw its revenue rise by 69% to Â£86 million in the year to end March following a record 3.5 million orders.
The retailer said trade had been boosted by the launch of two exclusive collections in collaboration with pop star Nicole Scherzinger, its expansion into plus size clothing and active wear, and its strong social media following.
Nitin Passi, founder and managing director of Missguided, said: “We are thrilled yet again to be celebrating record revenue for the year end. Our huge growth over the past six years indicates that our strategy, rooted in speed, agility and value for consumers, is working.”
In the coming year, Missguided will continue to develop new product categories as it looks to widen its customer base following the success of the plus size and active wear lines. It will also introduce new technologies to streamline the customer experience and offer a more personalised journey on the site.
Missguided will transfer to a new office this year and open a new fulfilment centre the following year as the company out-grows its current facilities. The new 45,000 square feet Missguided headquarters will be based in Salford Quays.
Passi added: “Our strategy to date has proven a huge success and we will look to continue to implement and evolve this going forward. We have been able to expand the brand appeal this year through new product collections, and we want to continue to innovate and offer more choice for consumers.”
This month Missguided is opening its first concession in Nordstrom stores in the US and its ranges will also be available on the Nordstrom website.
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