Nitin Passi is quite the success story. The business Mogul founded Missguided during the 2008 recession. Many would argue that this was a great time to launch a value-focused retail venture online. Years later and Missguided is worth over 100 million dollars. This UK-based fast fashion brand continually expands its borders and has entered countries like Sweden, the US, Germany, and even pride. However, Passi, who owns Missguided, had very little business experience when he started.
The question becomes how he built a multimillion brand in such a short time. To help answer this question, we’ll explore Nitin Passi’s story. Through this article, you’ll understand the whole story behind Nitin Passi better. Also, you will gain insight into his marketing mistakes and how he built a fast supply chain for his business.
Who Owns Missguided: The Early Beginnings
Nitin Passi, who owns Missguided, didn’t have much business experience at the beginning. He graduated from the university in 2005. His father was an importer whose business ran through the UK and the US. His father designed and sold to high-street chains and department stores. At the time, Nitin lived in New York and took the opportunity to obtain a grounding in the fashion business. He also learned about designs, traveling with designers, producing clothing, and selling. What he was learning was completely different from what Missguided is all about, but he valued the lessons anyways.
He joined his father’s business for a year before standing independently when he returned to London. While working for his father, he didn’t have a particular role. However, the experience was essential to him. Missguided was the first company he set up, and he started as an innocent owner of the brand.
Nitin Passi, who owns Missguided, took a lown from his father and set up the company in 2008. Passi clarified in an interview that he was the only employee in the company for the first six points. Afterward, he employed some people to share the tasks with him. The early days of the business were mainly a learning curve for Passi. He explored wholesale since the company wasn’t designing anything then. Also, he indulged in some offline advertising, and slowly, the company began to grow. He made his first 100,000 pounds in November 2009.
Nitin Passi and Making a Difference in the Retail Space
Nitin Passi didn’t set out to create a business that made a difference. However, Missguided continues to do just that. He understood that he had many competitors in the fast fashion space, so he implemented strategies to stand out. For example, instead of launching a collection every week like their competitors, Nitin Passi, who owns Missguided, ensures that the brand releases a collection every day. He shared that this strategy seems to be working for the brand as 30% of customers visit the brand every day.
Nitin Passi believes that Missguided is more than fast fashion; it is rapid fashion. The way he set the company up was to be active and agile. With research into their customer base, he understands that things are constantly changing. Therefore, what’s hot today isn’t necessarily hot next week, and there’s a need to stay on top of the new trends every week. A vertical supply chain tests products to ensure that new clothing products stay true to trends. This supply chain checks the reaction to products and gets them to sell quite well.
Nitin Passi, who owns Missguided, explains that everything the brand does is about speed. His focus lies in reacting to customers’ needs. Most of the production for the company takes place in the UK. However, there’s also production done in the Far East. He shared that the company could produce something in as little as three days. That’s why the brand earned its name as a fast-fashion brand. Nitin Passi values data and quick response to how people react to pieces. He explained that the company draws inspiration from celebrities and tries to have similar clothes within a few weeks of their public appearance.
Nitin Passi and Globalizing the Brand
In an interview, Nitin Passi, who owns Missguided, shared that his main goal was to build a global brand. Missguided is mainly in the UK, but it is gaining popularity internationally. Passi’s goal is to make Missguided a household name around the world. Although he’s unclear whether he wants to go through the online route or stores, he’s clear about going international. He shared that this was a critical mission for him in the long run. He understands that the business can grow internationally due to the demand for the brand. Passi shares that the brand’s customers in the UK and anywhere else in the world were similar in what they wanted.
He shares an experience where he tried taking the brand internationally and breaking into the German space. However, despite investing lots of money into advertising in German magazines, nothing paid off. He explains that most of the reason was that he didn’t research the market appropriately. Therefore, he assumed that what worked in the UK might work in Germany, which only backfired.
Misguided Advertising Method
When Missguided started in the UK, Nitin Passi revealed that there was more offline advertising than online. However, he was willing to explore online advertising, and by doing this, the brand conquered the world of advertising. In addition, by exploring the online advertising method, the brand gained access to social media, street style, and even popular culture. Some strategies that Nitin Passi, who owns Missguided, explored as marketing strategies for Missguided includes:
One way Missguided was able to drive sales and enter the international scene was through referral programs. Word of mouth was one of the best methods the brand utilized to drive business growth. Instead of developing typical marketing campaigns, they allowed the shoppers to advertise the company the best way they knew how. With the referral program, Missguided new customers could share their positive experiences with their friends. Every time a person makes a purchase and uses an influencer’s name at checkout, they get gifts in return. This strategy allows the brand to focus on its positive settlement. It also encourages millennials to express their love for the brand through their preferred communication method. This method didn’t just help grow customers; it also helped promote loyalty amongst customers.
Trigger Based Emails
Another strategy that Nitin Passi introduced to the brand as a marketing strategy is the trigger-based email campaign. This advertising method allows the brand to communicate with the customers at different buying stages. These emails inspired customers who only visit one to keep coming back. One of the trigger-based email campaigns was the welcome campaign. It was a series of emails sent to new customers to remind them of the brand. The birthday campaign was also one of them. It offered customers gifts like a discount, free delivery, or simply encouraging words on their birthday. This email campaign increased the brand’s visibility and helped to build long-term customer relationships.
Swipe to Hype Campaign
We’re all familiar with Tinder, right? Tinder features were swiping left for no and right for yes. This Tinder feature allowed users to get through dating profiles and make decisions about prospects quickly. Nitin Passi, who owns Missguided, also implements this feature as a marketing strategy. You could swipe right for products you love and left for products you didn’t like on the platform. It added all the products you liked to your wishlist. Additionally, you can find different looks showcasing various styles on the brand app. If you loved a look, you just had to ‘shop the look,’ and you can shop for the products in the photo.
Passi noted that people loved mobile, and therefore, he fully utilizes the method adding features to make the app more exciting. As a result, not only is Missguided able to create a positive e-commerce experience, but they also encourage customers to return.
Edgy Online Ads
With Nitin Passi investing a lot on online brands, he’s also reaping the dividends. The brand continues to create videos, pop-ups, and other ads to engage with customers. In these promotional copies, the brand always mixes visuals with creative content. The platform also uses geo-tagging when advertising stores. This way, consumers learn about new stores within their area quickly. The brand successfully communicated with its target market by focusing on these efforts.
Missguided and Female Empowerment
According to Nitin Passi, who owns Missguided, empowering female customers through their outfits has been a top goal for Missguided. He shares that this is even more important than the number and shows in the collaborations and the campaigns. These ideas resonate in their every action. The goal isn’t just to make the customers look good but also to feel good. Missguided is on a mission to make women feel confident, cool, and sexy every time they put on a Missguided outfit.
He explains that this empowerment mission goes beyond just the customers. Additionally, the company is also a member of the Ethical Trading Initiative. This membership showed their dedication to protecting those within their supply chain. Missguided is dreaming big and wants to make an even broader impact. Recently, the company began exploring recycled packaging for the company. The company reflects these ideals with global campaigns involving Jourdan Dunn, a supermodel. Other campaign collaboration includes Sofia Richie, Nicole Scherzinger, and top brands like Barbie and Playboy.
Nitin Passi and the Key to Success in Missguided
Passi, who owns Missguided, believes that the key to success is being more active than your competitor. He explains that Missguided offers strong products and are continually improving their collections. There’s always a need to understand what your customer wants. By reacting to what the customer wants and using vital data about their needs, you can give them exactly what they want. Nitin understands that this is the key to retail. When you listen to your customers, you’re sure to do well.
A quick turnaround is also essential in the success of a business. Nitin stated that the production chain is within the company. Although the company started with just 15 designers, they now possess over 120 designers who provide the styles they sell in-house. This allows the brand to be unique and trendsetting in its approach. The brand currently has over 4000 people in the headquarter office, all working towards creating market-leading clothes.
Missguided is a top fast fashion brand that caters to an international market. In addition, the brand caters to young women offering them accessories, apparel, beauty products, and footwear. The success of the Missguided brand is due to Nitin Passi, who owns Missguided. He successfully led the brand into one of the leading fashion brands offering affordable products to customers. This article helps you gain insight into different parts of the business and Nitin Passi’s life and goals for the business.