Missguided (UK) Opens First Store in Vietnam
17 May 2019 - Missguided has just opened the doors to its first store in Vietnam, as the fashion retailer pushes on with international expansion while downsizing in the UK.
The new store is located at the Saigon Centre mall in Ho Chi Minh City and follows the closure of its loss-making flagship in Westfield Stratford City at the end of February.
Missguided’s store in the Bluewater shopping centre in Kent remains open, while it recently opened its first international franchise store in Dubai.
The Dubai store is part of a partnership deal with retail group Azadea, in which the British retailer is poised to roll out stores, websites and click-and-collect services in the UAE, Qatar, Saudi Arabia, Kuwait, Bahrain, Jordan, Lebanon and Egypt.
According to Missguided’s most recent accounts filed with Companies House, it swung to an operating loss of £37.7 million for the 12 months leading up to April 1, 2018, compared to a profit of £580,000 the year prior.
However, group turnover for the year increased 4.9 per cent to £215.91 million.