Shein acquires Missguided brand from Frasers
Shein also confirmed that it has entered into an agreement to licence the Missguided brand IP to SUMWON Studios
Shein has acquired the Missguided brand from Frasers Group.
Following the move, Missguided products and collections will be made available to Shein’s 150 million global users as an independent brand via Shein sites, as well as on Missguided.com.
Shein also confirmed that it has entered into an agreement to licence the Missguided brand IP to SUMWON Studios, a joint venture between Shein and Missguided’s founder, Nitin Passi.
The brand, Missguided, will be managed through the joint venture, and its products and collections will be manufactured through Shein’s production model, and sold on Shein sites.
Donald Tang, Shein’s executive chairman, said: “The joint venture we have entered ushers in a new format of partnerships for Shein, as part of our unwavering commitment to meet customer demand.
“Shein aims to reignite the Missguided brand, capitalising on its unique brand personality, and fuelling its global growth through Shein’s on-demand production model, unparalleled e-commerce expertise and global reach.”
Last month reports emerged that Mike Ashley was looking to sell the online clothing label to the Chinese-founded online fashion platform.
Shein, which is reported to have been valued at approximately $66bn (£53bn), is said to be worth more than H&M and Zara’s parent company, Inditex, combined.
Now headquartered in Singapore, the company reportedly has ambitions of going public in the US in the next 12 months, and is lining up investment banks to handle an initial public offering.
Frasers Group owns brands as diverse as Evans Cycles, Game, Gieves and Hawkes, House of Fraser, Jack Wills and Sports Direct. It also owns Missy Empire and ISawItFirst, two other female-focused, digitally-led fashion brands.
