LONDON, ENGLAND, April 21, 2013 (Press-News.org) Retail Week has published a profile of fast fashion brand Missguided and its impressive growth over the past few years.
Founder of the Manchester-based company Nitin Passi chatted to the publication about the development of his enterprise from a small clothing website selling Missguided women's tops to an international enterprise. It is currently experiencing a 20 per cent increase in sales each month and expects to record sales of between GBP50 and GBP55 million for the year to March 2013. Over the course of the current financial year, sales are predicted to grow to over GBP100 million.
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 Missguided women's fashion reaches a wider audience.
According to Passi, the service it offers its customers is also essential to the etailer's success. He believes thanking customers with bonuses like free standard delivery on orders over GBP40 and next day couriers on orders made up until 9pm is the way forward.
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 women's clothes from Missguided. Hundreds of new products are added to the site every week and the low price points are undoubtedly part of the appeal for consumers.
Now that Missguided has established itself in the UK, it is working on numerous overseas ventures and has already launched its brand in the US, Ireland and Australia. Over the course of 2013 it plans to have operations up-and-running in Germany, France and China.
Passi told Retail Week that the brand's overseas arms are set to account for 30 per cent of its turnover within a year. It has also set itself the target of achieving a GBP1 billion turnover in the space of five years and, with the way things are currently going, this could very well be a possibility.
For more information, contact: Judy Davis
Website: www.missguided.eu
Retail Week Discovers the Secret of Etailer Missguided's Success
Retail Week has published a profile of fast fashion brand Missguided and its impressive growth over the past few years.
2013-04-21
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[Press-News.org] Retail Week Discovers the Secret of Etailer Missguided's SuccessRetail Week has published a profile of fast fashion brand Missguided and its impressive growth over the past few years.