British fast fashion retailer Missguided receives financial support. On Monday, the troubled retailer investment company Alteri Investors announced that it had made a “significant investment” in Missguided. As part of the transaction, Alteri took over debts of the clothing supplier and acquired a fifty percent stake in its parent company Missguided Limited. The cash injection provides the company with “the necessary liquidity and support to deal with short-term supply chain problems, as well as a platform to return to sustainable profitability,” said Alteri.
According to the investor, he will have two board seats at Missguided. In addition, an Executive Chairman “with extensive retail and turnaround experience” is to be installed. Talks with a “favored candidate” are already well advanced, said Alteri. At the same time, the financial company outlined the upcoming tasks that the clothing supplier’s management should master: The first step is therefore to replenish the inventory after the recent bottlenecks in the supply chain. Then the investor wants to work with the management of Missguided to develop a strategy to increase profitability. In the medium term, the focus will then be directed towards achieving sustainable growth, explained Alteri.
Missguided was founded in 2009 by Nitin Passi, who serves as CEO to this day. As a pure online retailer, the company offers inexpensive women’s clothing for a young target group. According to Alteri, Missguided’s sales for the 2020/21 fiscal year ended March 287 million were £ 287 million (€ 337 million). The most important markets were therefore Great Britain and the USA.