SHEIN, the online fashion and lifestyle retailer, has acquired Missguided, the women’s fashion brand, from Frasers Group. The acquisition is part of SHEIN’s strategy to diversify its product offerings and aims to meet customer demand for a wider range of products.
In addition to the acquisition, SHEIN has entered into a licensing agreement for the Missguided brand’s intellectual property with SUMWON Studios. This is a joint venture between SHEIN and Nitin Passi, the founder of Missguided. According to the terms of the agreement, Missguided will be managed through this joint venture and its products will be manufactured using SHEIN’s on-demand production model. These products will then be sold on SHEIN’s platforms.
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.”
🏆
The 2024 Creative Retail Awards are open for entries.
The Creative Retail Awards are much more than a mere accolade; they represent the pinnacle of achievement in the retail industry. Garnering a nomination or winning one of these awards is a testament to innovation, excellence, and leadership.
www.creativeretailawards.com
SHEIN’s on-demand production model is designed to respond to market demand in real-time, aiming to reduce production waste and excess inventory. The model allows for increased production only when there is actual market demand.
Missguided products will be made available to SHEIN’s user base, which is reported to be around 150 million global users. These products will be sold as an independent brand on SHEIN’s platforms, as well as on Missguided’s own website, Missguided.com.
