By Shawna Healey
Manchester-based global brand Missguided has seen a £46 million pre-tax loss between 2017 and 2018.
Missguided is an online fashion retailer aiming its garments at women aged 16-35, shipping globally. The company often collocates with celebrities on collections. These celebrities range from American model and activist Amber Rose, model Jourdan Dunn and Youtuber Carli Bybel.
Accounts filed with Companies House have revealed that the company has reported an operating loss of £46m, compared to a 1.6% loss between 2016 and 2017. The company turned over £215.9m, up 4.9%.
In 2016, the fashion retailer opened a brick and mortar store in Westfield, London, and the following year opened a store in Bluewater shopping centre in Kent. Missguided also has two concession stands in Selfridges Manchester and Birmingham.
The Westfield store opened in 2016 and is over 20,000 square feet. Missguided told Drapers in an interview that the shops were “significantly too large” and cost more to run than the revenue they brought in. Founder Nitin Passi told Drapers: “2017/18 was a tough but necessary year for the business.”
Passi told the website that the company has been “rebooted, refocused, and re-energised”. Passi also added that the company is “excited to return to growth in 2o19”.
Missguided is part of the new online fast fashion trend that has seen a rise in cheap, quickly-made clothing, along with other brands such as Pretty Little Thing, Boohoo, and Fashion Nova.
The QuietManDave Prize returns for 2024 to celebrate 12 incredible shortlisted authors and honour prize namesake Dave Murray. The winners will be announced at an awards ceremony hosted at Manchester Met’s Manchester Poetry Library on December 13. The event will celebrate the shortlisted entrants, with performances of the top three pieces in each category, and…
Featured image: Lilibelle Anthony There were no benches near the Domino’s pizza in Chorlton, and it was far too hot to bother walking to a nearby park. Out of laziness, we perched atop a rusty metal fence. The thin bar across the top wasn’t wide enough to balance on properly, but we persisted against gravity,…
Featured image: Palace Theatre Willy Russell’s multi-award winning smash hit musical, Blood Brothers, has just closed its doors in Manchester, with Joe Sleight and Josh Capper taking on the roles of Eddie Lyons and the intricate Mickey Johnstone. Capper inherits the role from the long-standing Sean Jones who, before retiring from the role in November,…
Featured image and gallery: Adrianos Falkonakis Eyehategod, New Orleans sludge metal band rocks Rebellion, composed of lead singer Mike Wiliams, guitarist Jimmy Bower, bassist Gary Mader and Aaron Hill on drums. After the Abduction open the evening with vigour, confidently dominating the stage with deep growling vocals and cheeky quips from the singer, Chris Sellers….
Leave a reply