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Alteri Investors backs fast fashion brand Missguided

20th December 2021

London, 20 December 2021: Alteri Investors (“Alteri”), the specialist European retail sector investor, today announces that it has made a significant investment in Missguided Limited, owner of the global fashion brand and digital retailer Missguided. Alteri’s investment, comprising both debt and the acquisition of 50% 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 ‘pure play’ retailer and fashion brand by Chief Executive Nitin Passi. Today, it is a fast fashion business serving in excess of four million active, 18–30-year-old customers in over 180 countries worldwide. The brand’s stated mission is ‘to empower all women by inspiring 100% self confidence in mind, body and potential’. It is well-known for its bold marketing campaigns in partnership with influencers such as Nicole Richie and Carli Bybel, and collaborations with iconic brands which reach its nine million social media followers.

In the year to March 2021 it achieved sales of £287m, with the UK and US its two largest markets.

With the backing of Alteri Investors, Management will be able to drive improvement in Missguided’s performance. After addressing short-term priorities including restocking following recent supply chain challenges, Alteri Investors will work with management to develop the strategy to transform the Group’s profitability. In the medium term, the focus will shift to initiatives aimed at delivering sustainable growth.

The current management will be boosted by the addition of an Executive Chairman with strong retail and turnaround experience, and discussions with a favoured candidate are well progressed. The Board will be further reinforced with the addition of two Directors from Alteri Investors.

The investment will be made from Alteri’s second investment vehicle, launched in August 2019, with the backing of funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO).

Missguided founder and 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.”

Alteri Investors founder and CEO Gavin George said: “Missguided is a much-loved brand with an entrepreneurial spirit which has seen it stay exciting and relevant over more than a decade and build a meaningful share of competitive markets in the UK, the US and beyond. Alteri’s success in this process is testament to the breadth of our operational transformation capabilities and our retail sector expertise.   As a digital pure-play retailer, Missguided is exposed to core markets enjoying strong double-digit growth, and the brand is very well-placed to capture the opportunity that these positive market dynamics present. We are looking forward to working with Nitin and the management team to help the business achieve its considerable potential.”

For media enquiries contact

Alteri Investors:

Sam Cartwright - Maitland/AMO 020 7379 5151 / 07827 254 561

Clinton Manning - Maitland/AMO 020 7379 5151 / 07711 972 662

Missguided:

Nick Agarwal - Arena + 44 (0)7568 101045

About Missguided

Missguided is a strong online fashion brand, offering apparel, footwear, accessories and beauty products to young women through missguided.com and young men through mennace.com.

Its signature confident style has driven global development in recent years and Missguided now sells to over 180 countries worldwide alongside its two largest markets in the UK and US.

Missguided is a social media pioneer and has a loyal following of over nine million social media fans worldwide across its digital platforms.

It has further developed its global profile and growth through wholesale partnerships with established brands such as ASOS, Zalando, The Iconic, Nelly, and Namshi.

Missguided is a proud member of the Ethical Trading Initiative (ETI), British Retail Consortium’s Better Retail, Better World group and Fast Forward.

Missguided was founded by Nitin Passi in 2009 and is headquartered at Trafford Park, Manchester and employs over 330 people.

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