Missguided launches in Vietnam with first store
Missguided has expanded its international footprint with the opening of its first store in Vietnam.
Located in Ho Chi Minh City’s Saigon Centre, the new opening follows a recent launch in Dubai Mall as part of a partnership with retail group Azadea.
Azadea is helping the British fast-fashion retailer expand in the Middle East with plans to open in key regional markets such as the United Arab Emirates, Qatar, Saudi Arabia, Kuwait, Bahrain, Jordan, Lebanon and Egypt.
At the same time, the young fashion brand is downsizing in its home market following an “extremely challenging” year and “premature” investment decisions.
In February, the e-tailer closed a 20,000-square-foot flagship store in Westfield Stratford City it had opened to much fanfare only three years earlier. The first London bricks-and-mortar site for the fashion e-tailer was expected to be the first of several scheduled to open around the UK in 2017.
Missguided swung to an operating loss of £37.7 million in the year ended 1 April 2019 from profits of £580,000 in the prior year.
The Manchester-based brand is understood to have about 90 franchised stores in the UK and concessions in Spain’s El Corte Ingles.
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