It is reported that the online retailer of women’s clothing Missguided is attracting interest from Asos, Shein, JD Sports, Frasers Group and the Issa brothers (owners of Asda), all of whom are said to be in talks to buy the company.
According to Draperiesprivate investment giants are also touring, and it is alleged that the sale documents were sent to CVC Capital Partners and Carlyle Group.
The news comes after Missguided founder Nitin Passy stepped down as CEO on April 20, although he will remain on the board to represent a 50% stake in his family.
Last month, a women’s clothing retailer hired Teneo, a consulting firm, to explore “strategic options” for its future.
In December, Missguided sold a 50% stake to private investment firm Alteri Investors to provide a cash injection and help the online retailer return to “sustainable profitability”.
The investment came after Missguided launched a review of its business structure in late 2021, concluding that “it needs to align its costs to better match its current performance” amid a supply chain disruption. , cost inflation and reduced customer demand.
Missguided therefore launched a 45-day consultation process, which resulted in 63 redundancies. Drapers said there were about 340 employees left and that Missguided was making “significant” progress in tackling inventory problems, streamlining warehousing operations and reducing head office costs.