Missguided founder exits as it hires Teneo to explore strategic options –

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// Missguided brings in Teneo to discover strategic choices for the business
// Founder Nitin Passi reveals options to stage down as main govt

Missguided has appointed Teneo to explore strategic possibilities for the enterprise as founder Nitin Passi reveals programs to step down as chief govt.

The quick fashion retailer explained it is in a position to speed up its ideas to find a strategic partner with the infrastructure and system to supply the upcoming stage in its turnaround.

Passi will phase down as CEO but continue being on the retailer’s holding firm board after  navigating Missguided by means of its latest fundraising and strategic assessment.

Go through More: Missguided warns 140 employment at chance right after “supply chain disruption”

The retailer also reported progress in addressing inventory challenges, streamlining warehouse operations and lowering head office environment expenditures in modern months.

Missguided chair Ian Grey claimed: “Missguided has designed sizeable operational progress considering that acquiring new financial investment at the conclude of 2021, positioning us on a sounder footing in a extremely quick area of time and I want to thank everyone for their hard function.

“That get the job done indicates we’re now in a situation to accelerate ideas to investigate strategic choices for the business enterprise.

“Missguided is a person of the most vivid brand names in young women’s trend and that is down to far more than a ten years of tricky get the job done by Nitin.”

Passi extra: “When I set up Missguided back again in 2009 with a little personal loan from my spouse and children, I had no idea about the impression the brand would make, and I have great pride in what we have created.

“But this is now the proper minute to phase away from working day-to-day management as the business explores strategic partnership possibilities for Missguided.

“I appear ahead to producing a ongoing contribution on Missguided’s holding business board.”

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