Chinese fast-fashion brand Shein has announced the acquisition of Missguided, a UK fast-fashion women’s brand, from Frasers Group, as the Asian online retailer looks to expand its global product offering.
Coinciding with the news, Shein said it has entered into an agreement to license the Missguided brand intellectual property to Sumwon Studios, a joint venture between Shein and Missguided’s founder, Nitin Passi.
As a result, 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, as well as on Missguided.com.
Frasers will retain Missguided’s real estate and employees, which have now been integrated into Frasers’ fashion division, said Frasers in a press release.
“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,” said Donald Tang, Shein executive chairman. “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.”
Founded in 2009 by Passi, Missguided is an online women’s fashion brand focused on younger women. In 2022, the embattled British brand was rescued from administration by UK giant Frasers Group.