Online fashion retailer Missguided has seen an increase in revenue by 69% to £86 million. The rise in the year to the end of March followed a record 3.5 million orders through the site.
Missguided said trade has improved following the launch of two exclusive collections; a collaboration with pop star Nicole Scherzingerand and its expansion into plus size clothing and active wear, as well as 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 said that it will continue to progress new product categories and widen its customer base, following the success of the plus size and activewear lines. There are also plans to introduce new technologies to streamline customers’ experience and offer more of a ‘personalised’ journey on the site.
The retailer will be transferring to a new office this year and opening a new fulfillment centre the subsequent year as the company out-grows its current facilities. The new 45,000 square feet headquarters will be based in Salford Quays.
Nitin 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.
