Chinese fast fashion giant Shein has acquired UK fashion brand Misguided from Frasers Group, just over a year after the group bought the business
Shein bought the IP for the brand and is set to manage and license Missguided via Sumwon Studios, making Missguided’s products available on both Missguided.com and its own website.
Frasers will keep Missguided’s real estate and staff, which have been integrated to its fashion division.
Frasers Group CEO Michael Murray said: “Retaining the combined Frasers fashion teams while rationalising our portfolio in this space to focus on fewer brands makes a lot of sense in the current climate.
“We are also excited about the discussions around further collaboration between Frasers Group and Shein.”
Shein executive chairman Donald Tang said it sought to “reignite the Missguided brand, capitalising on its unique brand personality.”
The purchase, for an undisclosed sum, is the Chinese ecommerce giant’s first British brand acquisition.
Shein, whose UK sales hit £1bn last year, was first reported to be in talks with Frasers over acquiring Manchester’s Missguided last month.
