Alteri Investors (Alteri) has made a significant investment in Missguided Ltd, the digital fashion retail business. Alteri’s investment, comprising both debt and the acquisition of 50 per cent of the group’s equity, will provide the business with the liquidity and support it needs to overcome short-term supply chain challenges, as well as a platform to return the business to sustainable profitability.
Missguided was founded in 2009 as an online only digital ‘pureplay’ retailer and fashion brand by CEO Nitin Passi. Today it is a fast-fashion business serving in excess of 4 million active 18-3o-year-old customers in 180 countries worldwide. It is well known for its bold marketing campaigns with influencers like Nicole Richie and Carli Bybel, as well as collaborations with iconic brands which reach its nine million social media followers. Its wholesale partners include ASOS, Zalando, The Iconic, Nelly and Namshi. The business achieved sales of £287m to March 2021.
The current management will now be strengthened by the addition of an executive chairman with strong retail and turnaround experience and two directors from Alteri Investors.
Missguided CEO Nitin Passi said: “Earlier this year we launched a process to identify a partner to help us navigate short-term challenges but more importantly deliver on the great opportunity that exists for this brand. Alteri’s deep sector expertise, proven track record and focus on driving operational efficiency make it the right partner. We look forward to working closely with the Alteri team as we return Missguided to profitability.”
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