By Daniel Hunter
Up-and-coming online fashion retailer Missguided has reported a 70% rise in sales, thanks in part to Nicole Scherzinger.
Missguided, founded by entrepreneur Nitin Passi in 2009, struck a deal with the pop star which saw her design her own clothing lines and promote the brand.
Sales were up 70% to £86m in the year to the end of March. And pre-tax profits rose from £500,000 to £5.5m. Mr Passi had set the ambitious target of achieving £100m sales by 2015.
The Manchester-based company has expanded into US, Australia and France, and has around three million registered users.
Mr Passi said: “We are thrilled yet again to be celebrating record revenue for the year end. Our huge growth over the past six years indicates that our strategy, rooted in speed, agility and value for consumers, is working.
“Our strategy to date has proven a huge success and we will look to continue to implement and evolve this going forward. We have been able to expand the brand appeal this year through new product collections, and we want to continue to innovate and offer more choice for consumers.”
