The company has entered into a joint venture with Missguided founder to manage and operate the brand
SINGAPORE, Oct. 30, 2023 /PRNewswire/ — SHEIN, a global online fashion and lifestyle retailer, announces the acquisition of Missguided, a bold and forward-thinking women’s fashion brand, from Frasers Group.
Missguided joins SHEIN’s family of fashion brands, furthering the company’s efforts to meet customer demand for product variety and consistently deliver an exciting customer experience.
SHEIN also announces 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. The brand, Missguided, will be managed through the joint venture, and its products and collections will be manufactured through SHEIN’s industry-leading, on-demand production model, and sold on SHEIN sites.
“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’s 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.”
SHEIN has reimagined the fashion industry’s traditional production model, by building an agile and responsive ecosystem that leverages real-time insights for on-demand production. This enables the reduction of production waste at the source and a much lower level of excess inventory, by responding with increased production only when there is actual market demand.
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.
Originally published at https://www.prnewswire.com/news-releases/shein-acquires-missguided-brand-301970938.html
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