October 30, 2023
In a significant development in the global fashion industry, Chinese clothing giant Shein has secured the brand name of Missguided from Frasers Group, marking a crucial step in its strategy to deepen its global reach and expand its marketplace model.
Missguided, a popular British fast fashion brand known for its trendy clothing, footwear, and accessories for women, found itself under the umbrella of Frasers Group in June 2022 when it was rescued from administration for £20 million. This strategic acquisition by Shein is set to reshape the landscape of online fashion retail.
As part of the deal, Shein will acquire the intellectual property and trademarks of Missguided, while Frasers Group will retain the brand’s real estate and employees. This arrangement will empower Shein to manufacture Missguided’s products and sell them on both companies’ websites, offering a broader array of choices to customers.
With a global customer base exceeding 150 million, Shein ranks as one of the world’s largest online fashion retailers. The acquisition of Missguided is a pivotal move, enabling Shein to further deepen its penetration into the UK market and expand its global presence.
While financial details of the deal have not been disclosed at this time, the transaction is expected to conclude by the end of this year.
This strategic maneuver underscores Shein’s commitment to diversifying its offerings and capitalizing on its vast customer base. The fashion industry is ever-evolving, and this acquisition demonstrates Shein’s dedication to staying at the forefront of global fashion trends.
Resources:
2.https://www.aol.com/shein-buys-missguided-brand-frasers-073923249.html
3.https://www.bbc.com/news/business-67259829
5.https://www.cnbc.com/2023/10/30/shein-acquires-missguided-from-britains-frasers-group.html
6.https://www.prolificnorth.co.uk/news/shein-buys-frasers-groups-missguided/