Missguided founder's fashion comeback hits $300m in just two years
Two years after founding Sumwon Studios, Nitin Passi is once again proving his ability to build fashion brands at scale. The on-demand fashion group closed 2025 with $300 million (£218.5 million) in net revenue, a milestone that marks a rapid rise for the business and a notable second chapter for the entrepreneur behind Missguided.
Passi (pictured), who launched Missguided in 2009 with just £50,000, grew the brand into a global fashion player generating around $400 million (£291.4 million) in annual revenue at its peak. Now, with Sumwon Studios, he is applying those learnings through a very different model: one built on on-demand production, real-time consumer data and capital-light growth.
In 2025, Sumwon Studios more than tripled revenue from around $100 million (£72.8 million) the previous year, while unit sales jumped 225% to 25 million, serving customers across 150-plus countries.
Missguided sits at the heart of Sumwon Studios’ portfolio, operating alongside brands including Sumwon, KIZN, Aiirz and Playboy, as well as BALR. (which the group acquired in August 2025). Backed by SHEIN as a strategic investor, the group leverages advanced on-demand supply chains to respond directly to customer demand, producing only what sells and scaling winners fast.
Passi said: "Sumwon Studios was built with a long-term vision to create a next-generation fashion group designed for how brands are built and scaled today. That means moving with speed, staying close to the customer, and executing with discipline."
The group now employs more than 150 people globally, with teams across multiple international markets supporting its expanding brand portfolio and multi-channel operations.
Looking ahead to 2026, Sumwon Studios plans to continue investing in technology, talent and brand development, as it accelerates growth across its brands worldwide.
