Missguided to sell in US stores after record year
Missguided has reported 69% growth after a year in which revenues grew to £86m and profits to £5.5m.
The fast fashion website, which is to open its first concessions within Nordstrom stores in North America in the coming year, says social media has been a driving force behind its growth. The business now has more than 2m followers on nine different channels: on Instagram it has some 875,000 followers, as well as 760,000 Facebook fans and 250,000 Twitter followers. By the end of the year, to March 31 2015, the company had more than 3m registered customers.
During the year ahead the company is to move to new headquarters in Salford Quays as well as opening a new fulfilment centre. It will also focus on developing new product categories.
Nitin Passi, founder and managing director of Missguided, (pictured) 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."