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Missguided entrepreneur reveals all about the fast-fashion brand

Missguided founder Nitin Passi has spoken to the publication Retail Week about the fast fashion brand and its growth over the past few years.


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Missguided founder Nitin Passi has spoken to the publication Retail Week about the fast fashion brand and its growth over the past few years.

The Manchester-based company that sells amongst other garments, womenís dresses, is currently experiencing a 20 per cent increase in sales each month and expects to record sales of between £50 and £55 million for the year to March 2013. Furthermore, sales are predicted to grow to over £100 million over the course of the current financial year.

According to Passi, the service it offers its customers is essential to the etailerís success. Offering bonuses such as free standard delivery on orders over £40 and next day couriers on orders made up until 9pm are the kind of benefits he believes consumers keep coming back for.

What is more, Missguided has made extensive use of digital marketing to promote itself, investing heavily in search engine optimisation, pay-per-click advertising and the management of social media sites to build up the brand. TV advertising and sponsorship have also helped to ensure the Missguided name reaches a wider audience.

Despite requests from other retailers such as Asos to wholesale its products, Missguided has been determined to grow its own retail operation and only sell its own brand garments. Hundreds of new products are added to the site every week, including many party dresses, and the low price points are undoubtedly part of the appeal for consumers.

Discussing the future of Missguided, Passi told Retail Week that the brandís overseas ventures are set to account for 30 per cent of its turnover within a year. Currently, it has operations in the US and Australia and is launching the brands in Germany, France and China in the near future.

Passi said the fast-fashion etailer has set itself the target of achieving a £1 billion turnover in the space of five years and, with the way things are currently going, this could very well be a possibility.



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