Frasers have appointed Greg Pateras as CEO for Missguided and ISawItFirst.com.
Pateras was CEO of ISawItFirst when it was acquired by Frasers, having previously held the deputy CEO role at Matalan, prior to which he was CFO at Shop Direct. Meanwhile, Missguided founder Nitin Passi who had been interim CEO of Missguided following its acquisition by Frasers will continue to work with Missguided in a consultancy capacity as the fast fashion etail business is ‘bedded in’ to the Frasers organisation.
In other news, Frasers has made a bid to acquire the remaining shares in MySale, the Australian online outlet store in which it already holds a minority stake. MySale would provide Frasers with access to a strong contra-seasonal route for moving on stock from across its brands as well as enabling it to make further inroads into the Australian market. This latest bid follows a record-breaking year for Frasers with soaring pre-tax profits as it benefited from stores being able to re-open, and its growing success with its Flannels stores.