Frasers Group sells Missguided fashion brand to Shein
Frasers Group has sold its Missguided fashion brand to Shein for an undisclosed sum.
Under the terms of the deal, the Chinese ecommerce giant will acquire the IP and trademarks of Missguided, whilst Frasers Group will retain Missguided’s real estate and employees which have now been integrated into Frasers’ fashion division.
Michael Murray, chief executive of Frasers Group, said: “With I Saw it First and Missy Empire, we now have a foothold in women’s digital-first fashion.
“Retaining the combined Frasers fashion teams whilst rationalising our portfolio in this space to focus on fewer brands makes a lot of sense in the current climate.
“We are also excited about the ongoing discussions around further collaboration between Frasers Group and Shein.”
In a further move, Shein has announced that it has entered into an agreement to license the Missguided brand IP to Sumwon Studios, a joint venture between Shein and Missguided’s founder, Nitin Passi.
While the brand will be managed through the joint venture, its products and collections will be manufactured through Shein’s on-demand production model, and sold on Shein sites and on Missguided.com.
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 ecommerce expertise and global reach.”
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