Missguided, the UK-based online fashion retailer, saw it sales surge by 45 per cent between April and November 2020.
What’s notable is that the online retailer also acquired 1.9 million new customers since the beginning of the 2020/21 financial year.
Overall also, the online retailer saw an addition of £100 million to its annual business turnover in 2020.
Expressing delight over the good numbers, Nitin Passi, Founder, Missguided, said that the retailer could record sales of £300 million by March 2021 – all thanks to growing demand from customers shopping from home.
Nitin also said that the retailer was looking at raising cash from the stock market or from private investors to further speed up the growth.
Notably, sales of activewear and loungewear rose sharply since April and the retailer increased its focus on overseas market, particularly the US.
While the US and UK markets grew strongly during the said period, good performance from key European markets like France and Ireland showed that half of the retailer’s sales now come from abroad.
Missguided now believes that its business is all set to grow in future especially with an aggressive 3-year plan ahead.
A good 2020 and a clear business plan for 2021 are sure to help the retailer attain its target of £300 million by next March.
Launched in 2009, Missguided mainly sells apparels for 16-35 year-old women.
