Online womenswear retailer Missguided is reportedly attracting interest from Asos, Shein, JD Sports, the Frasers Group and the Issa brothers (the owners of Asda), all of whom are said to be in talks to buy the company.
According to Drapers, private equity giants are also circling and sales documents are said to have been sent to CVC Capital Partners and the Carlyle Group.
The news comes after Missguided’s founder, Nitin Passi, stepped down from his role as chief executive officer (CEO) on 20 April, although he will remain on the board to represent his family’s 50% stake.
Last month, the womenswear retailer appointed Teneo, an advisory firm, to explore “strategic options” for its future.
In December, Missguided sold a 50% stake to private equity firm Alteri Investors to secure a cash injection and to help the online retailer return to “sustainable profitability”.
The investment came after Missguided launched a review of its business structure at the end of 2021, concluding that it “needs to align its costs to better match its current performance”, amid supply chain disruption, cost inflation and lowered customer demand.
Consequently, Missguided began a 45-day consultation process, making 63 staff redundant. Drapers said around 340 employees remain and that Missguided is making “significant” progress in addressing stock issues, streamlining warehouse operations and reducing head office costs.