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The acquisition aligns with Frasers CEO Michael Murray’s perspective that focusing on fewer brands is a wise move in today’s market environment. This move follows Shein’s earlier investment in Forever 21’s operator.
In addition to the acquisition, Shein has agreed to license the Missguided brand IP to Sumwon Studios. This new entity is a collaboration between Shein and Nitin Passi, the founder of Missguided. Sumwon Studios will manage the brand using Shein’s on-demand production model. The products will be marketed on Shein’s platforms and on Missguided.com as an independent entity.
Frasers Group, majority-owned by Michael Ashley, had purchased Manchester-based Missguided for £20 (£1 = $1.21) million during its financial crisis in June 2022.
Shein’s Executive Chairman Donald Tang views this joint venture as a new partnership format for the company. He believes it represents an innovative approach to expanding their business while leveraging existing brand recognition and consumer loyalty.
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