Nitin Passi

Nitin Passi
BornNovember 1982 (age 43–44)
OccupationBusinessperson
Known forFounder 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. 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.

Early life

Born in Cheshire, Passi grew up in Surrey and Hong Kong and briefly lived in New York. His grandfather moved to the UK from India in the 1960s and set up a knitwear factory.

Passi went to Cranleigh School and Newcastle University, where he studied business management.

After graduation, he worked for his father's fashion wholesaler.

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.

Sumwon Studios operates a “buy-and-build” strategy focused on acquiring and scaling direct-to-consumer lifestyle brands through digital storytelling and global distribution. Strategic investors include Shein.

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.” Sumwon Studios stated that it was on track to exceed US$400 million in revenue in the same year.

Personal life

Passi was born in November 1982. He is based between the United Kingdom and Dubai, where Sumwon Studios is headquartered.

References

  1. ↑ "Login". login.thesundaytimes.co.uk. Retrieved 12 February 2019.[dead link]
  2. 1 2 3 4 Terra, Caitlyn (18 August 2025). "Nitin Passi: who is Balr.'s new owner?". FashionUnited. Retrieved 18 September 2025.
  3. 1 2 3 Terra, Caitlyn (18 August 2025). "Dubai-based Sumwon Studios acquires Balr". FashionUnited. Retrieved 18 September 2025.
  4. ↑ McCall, Tyler (22 September 2014). "How Missguided Founder Nitin Passi Created an $80 Million Business in Five Years". Fashionista. Retrieved 12 February 2019.
  5. ↑ "North West Business Insider August 2015 | Insider Media Ltd". www.insidermedia.com. Retrieved 13 February 2019.
  6. ↑ Bounds, Andrew (12 August 2014). "Rapid fashion: Nitin Passi's Manchester style destination". Financial Times. Retrieved 12 February 2019.
  7. ↑ "Connecting People Through News". Heat. Retrieved 13 February 2019.
  8. 1 2 "The Drapers Interview: Missguided's Nitin Passi is taking it to the street". Drapers. 17 June 2015. Retrieved 12 February 2019.
  9. ↑ 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.
  10. ↑ "How Nicole Scherzinger helped boost Missguided". The Sunday Telegraph. Retrieved 13 February 2019.
  11. ↑ "Sumwon Studios redt modemerk Balr van ondergang". Retrieved 18 September 2025.