×
80 155
Fashion Jobs
SUIT SUPPLY
IT Project Manager
Permanent · New York
ADIDAS
Senior Finance Manager - Marketplace
Permanent · PORTLAND
ESSILORLUXOTTICA GROUP
Naasc Material Handler i (Naasc) - 1st
Permanent · MCDONOUGH
ESSILORLUXOTTICA GROUP
Sunglass Hut - Regional Manager
Permanent · ATLANTA
ESSILORLUXOTTICA GROUP
Corporate - sr. Manager- Finance (Generic)
Permanent · MASON
NORDSTROM
Asset Protection - Agent - Downtown Seattle
Permanent · Seattle
NEWELL
Account Manager
Permanent · ATLANTA
NEWELL
sr Manager, Supply Chain Pmo
Permanent · ATLANTA
OLD NAVY
General Manager - Crossroads Village
Permanent ·
BANANA REPUBLIC
General Manager - Commerce Tanger
Permanent · COMMERCE
DECKERS
Key Account Representative
Permanent · BROOMFIELD
QVC
Facilities Area Manager-2nd Shift
Permanent · BETHLEHEM
HSN
Product Manager
Permanent · WEST CHESTER
THE REALREAL
Field Sales Account Manager (Account Luxury Manager)
Permanent · Boston
THE REALREAL
Merchandising Operations Coordinator
Permanent · Phoenix
MACY'S
Asset Protection Detective, Temecula Promenade - Full Time
Permanent · Temecula
MACY'S
Retail Fulfillment Associate, Ross Park Mall - Full Time
Permanent · Pittsburgh
MACY'S
Asset Protection Detective, Springfield - Full Time
Permanent · Springfield
MACY'S
Asset Protection Security Guard, Herald Square - Full Time
Permanent · New York
MACY'S
Retail Fulfillment Associate, Pleasanton Stoneridge - Full Time
Permanent · Pleasanton
MACY'S
Retail Fulfillment Associate, Northlake Mall - Full Time
Permanent · Atlanta
URBN
Anthropologie Design Director - Fabric & Textile Concept
Permanent · PHILADELPHIA
Published
Oct 25, 2021
Reading time
2 minutes
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Missguided chief looks at radical restructuring options - report

Published
Oct 25, 2021

Missguided founder Nitin Passi is seeking an urgent lifeline to keep the business afloat in the face of the global supply chain crisis.


Missguided



That’s according to weekend press reports that said the 11-year-old business has taken on AlixPartners to look at a radical restructuring of the company.

The Telegraph said Passi is seeking an “emergency” £50 million cash injection from outside investors as logistics issues squeeze its supply chain and send its costs higher.

We heard last week from Unilever how higher costs are becoming an issue, but the global consumer products group has massive pricing power through its line-up of global brands. A business like Missguided is in a much less powerful position given the intense competition in the fast fashion sector and that low prices are one of the key selling points of the kind of goods it produces.

The report also also said that major wholesale customers are taking longer to pay, adding to the pressure on the company’s finances.

And it suggested that a sale of the business is still on the agenda with companies including ASOS, Zalando, Shein and recently-stock-exchange-listed In The Style touted as potential buyers.

The company has been seeking to sell itself or find new investors for much of this year and earlier reports had linked JD Sports with a possible deal. Talks with the acquisitive retail giant are said to have stalled but could still be revived.

It’s unclear how much time the company has to reach a solution to its problems.

Missuided was set up just over a decade ago with a £50,000 loan from Passi’s father, a loan that was quickly repaid as the business boomed on the back of social media exposure and celebrity fans such as Nicole Scherzinger and Sofia Richie wearing it. The label was at the forefront of the North of England fashion explosion based in and around Manchester.

However, it also more recently (in 2017) was the subject of accusations over supply chain abuses. And its expansion into physical stores backfired with flagship properties at Westfield Stratford City and Bluewater later closing.

The company, which has around 400 staff, has seen flat sales for a number of years and was last profitable in 2016. Even the pandemic that was a boost to many online fashion retailers didn’t seem to help.

The company hasn’t commented so far.

Copyright © 2023 FashionNetwork.com All rights reserved.