// Missguided provides in Teneo to check out strategic choices for the business enterprise
// Founder Nitin Passi reveals programs to phase down as chief govt
Missguided has appointed Teneo to discover strategic selections for the organization as founder Nitin Passi reveals programs to action down as main government.
The quick style retailer claimed it is in a posture to accelerate its strategies to find a strategic companion with the infrastructure and platform to provide the following phase in its turnaround.
Passi will move down as CEO but continue to be on the retailer’s holding business board after navigating Missguided via its modern fundraising and strategic evaluation.
Read through Extra: Missguided warns 140 work opportunities at threat right after “supply chain disruption”
The retailer also reported progress in addressing inventory concerns, streamlining warehouse functions and lowering head workplace prices in current months.
Missguided chair Ian Gray stated: “Missguided has manufactured considerable operational progress considering the fact that acquiring new investment at the stop of 2021, putting us on a sounder footing in a incredibly limited room of time and I want to thank every person for their tough perform.
“That do the job implies we’re now in a position to accelerate options to check out strategic solutions for the company.
“Missguided is just one of the most vibrant brand names in youthful women’s vogue and that is down to extra than a decade of really hard function by Nitin.”
Passi added: “When I established up Missguided back again in 2009 with a compact bank loan from my family members, I experienced no strategy about the impact the manufacturer would make, and I have good pleasure in what we have crafted.
“But this is now the right minute to stage away from working day-to-day leadership as the business explores strategic partnership alternatives for Missguided.
“I look forward to earning a ongoing contribution on Missguided’s keeping corporation board.”
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