Nitin Passi
Nitin Passi | |
|---|---|
| Born | November 1982 (age 43) |
| Occupation | Businessperson |
| Known for | Founder of Missguided |
Nitin Passi (born November 1982) is a British entrepreneur and the founder of fashion retailer Missguided and brand management platform Sumwon Studios. In 2019, The Sunday Times Rich List estimated his net worth at £250 million.[1] Sumwon Studios, established in 2023, operates under a buy-and-build strategy, acquiring and scaling lifestyle and fashion brands including Missguided and Dutch label Balr.[2][3]
Early life
Born in Cheshire, Passi grew up in Surrey and Hong Kong and briefly lived in New York.[4][5] His grandfather moved to the UK from India in the 1960s and set up a knitwear factory.[6][7]
Passi went to Cranleigh School and Newcastle University, where he studied business management.[8][9]
After graduation, he worked for his father's fashion wholesaler.[8][10]
Career
After founding Missguided in 2009 and leading its growth into a global fast-fashion business, Passi stepped down in 2022 following the company’s administration. In June 2023, Shein acquired the Missguided brand, with operations licensed to Passi’s new venture, Sumwon Studios, a Dubai-based brand platform he founded the same year.[2]
Sumwon Studios operates a “buy-and-build” strategy focused on acquiring and scaling direct-to-consumer lifestyle brands through digital storytelling and global distribution.[11] Strategic investors include Shein.[2]
In 2025, the company acquired Balr., the Dutch lifestyle and football-inspired brand, following its bankruptcy proceedings. Passi described the acquisition as an opportunity to reposition Balr. “at the intersection of football, fashion and lifestyle.”[3] Sumwon Studios stated that it was on track to exceed US$400 million in revenue in the same year.[3]
Personal life
Passi was born in November 1982. He is based between the United Kingdom and Dubai, where Sumwon Studios is headquartered.[2]
References
- ^ "Login". login.thesundaytimes.co.uk. Retrieved 12 February 2019.
- ^ a b c d Terra, Caitlyn (18 August 2025). "Nitin Passi: who is Balr.'s new owner?". FashionUnited. Retrieved 18 September 2025.
- ^ a b c Terra, Caitlyn (18 August 2025). "Dubai-based Sumwon Studios acquires Balr". FashionUnited. Retrieved 18 September 2025.
- ^ McCall, Tyler (22 September 2014). "How Missguided Founder Nitin Passi Created an $80 Million Business in Five Years". Fashionista. Retrieved 12 February 2019.
- ^ "North West Business Insider August 2015 | Insider Media Ltd". www.insidermedia.com. Retrieved 13 February 2019.
- ^ Bounds, Andrew (12 August 2014). "Rapid fashion: Nitin Passi's Manchester style destination". Financial Times. Retrieved 12 February 2019.
- ^ "Connecting People Through News". Heat. Retrieved 13 February 2019.
- ^ a b "The Drapers Interview: Missguided's Nitin Passi is taking it to the street". Drapers. 17 June 2015. Retrieved 12 February 2019.
- ^ Shah, Oliver (5 July 2015). "Someone told me I was on the Rich List and I was like, what?". The Sunday Times. ISSN 0956-1382. Retrieved 13 February 2019.
- ^ "How Nicole Scherzinger helped boost Missguided". The Sunday Telegraph. Retrieved 13 February 2019.
- ^ "Sumwon Studios redt modemerk Balr van ondergang". Retrieved 18 September 2025.