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Shein online fast fashion retailer has acquired Missguided, a British fashion line owned by Mike Ashley’s Fraser Group. The Singapore-headquartered company purchased the latter as it aims to expand its business globally.
Shein is looking to widen its market share on the international stage, and its acquisition of the Misguided brand will help it in this endeavor. The firm bought the retail firm ahead of its rumored initial public offering in the United States.
Details of the Deal
As Shein acquires Misguided, it will now be manufacturing the latter’s products and marketing them on its own and Misguided’s websites. But while this is the arrangement, the products will still be sold as independent brands.
Moreover, CNBC reported that Frasers will retain all of Misguided’s employees and real estate properties. In addition, as part of the deal, Shein will issue an intellectual property license to Sumwon Studios, which is a joint venture between Shein and Nitin Passi, the founder of Missguided.
Sumwon has been tasked to manage and operate the Missguided line after the acquisition. As for the financial aspect of the deal, the companies did not disclose the agreed value.
Strategy to Drive Sales in the UK
Catherine Shuttleworth, a retail analyst, shared that the fashion retailer will use Missguided to grow its foothold in the West while driving sales in the United Kingdom. The analyst explained that Missguided appeals to the younger generation of shoppers, which is actually the market being targeted by Shein, as per BBC News.
"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’s executive chairman, Donald Tang, said in a press release. "SHEIN aims to reignite the Missguided brand, capitalizing on its unique brand personality, and fuelling its global growth through SHEIN's on-demand production model, unparalleled e-commerce expertise, and global reach."
Photo by: Shein Newsroom
