Frasers adds Missguided CEO role to I Saw It First chief's remit
Greg Pateras, the CEO of I Saw It First, is also taking over as chief executive of Missguided, according to reports. The two fast-fashion brands were recently acquired by Frasers Group (Missguided having been bought out of administration) and have clear synergies so the move does make commercial sense.
Pateras has been at the helm of I Saw It First since last autumn having been brought in with a remit to sell the brand, a feat he achieved last month.
Previously deputy CEO of Matalan, he’ll now be responsible for both Manchester-based operations. And Retail gazette reported that Missguided founder Nitin Passi, who was rehired recently after earlier exiting the business, will act as a consultant to the label.
Pateras has a big job on his hands, with Missguided in particular having been through some tough times in recent years. But both labels face huge challenges with consumers’ sustainability obsession undermining fast-fashion in general and the cost-of-living crisis already starting to dent clothing sales.
But he has a good track record and having led Matalan’s turnaround drive and its move to digital, its e-tail sales soared.
He has strong experience of online pureplays too having previously been CFO of Very Group when it was known as Shop Direct.
Frasers hasn’t confirmed his appointment yet.
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