SHEIN Announces Acquisition of British Fashion Brand Missguided
(Image Source: Dick Thomas Johnson/?Flickr)
SHEIN, the global online fashion and lifestyle retailer, has announced the acquisition of Missguided, a dynamic and forward-thinking women's fashion brand, from Frasers Group. This acquisition marks an exciting chapter for both companies and aligns with SHEIN's mission to cater to the diverse demands of its customers and consistently offer an exhilarating shopping experience.
Missguided will now become an integral part of SHEIN's family of fashion brands, expanding the conglomerate's portfolio and enhancing its commitment to delivering a wide range of products that resonate with its ever-growing customer base. This strategic move positions SHEIN to better serve its customers and maintain its reputation as a trendsetting online fashion destination.
Furthermore, SHEIN has revealed its intention to license the Missguided brand's intellectual property (IP) to SUMWON Studios, a joint venture established between SHEIN and Missguided's founder, Nitin Passi. Under this agreement, the Missguided brand will be overseen by the joint venture, and its products and collections will be manufactured utilizing SHEIN's industry-leading, on-demand production model. These products will then be made available for purchase on SHEIN's websites, reaching millions of customers worldwide.
Donald Tang, the Executive Chairman of SHEIN, expressed his enthusiasm about this groundbreaking partnership, stating, "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, capitalizing on its unique brand personality, and fueling its global growth through SHEIN's on-demand production model, unparalleled e-commerce expertise, and global reach."
SHEIN has revolutionized the traditional production model within the fashion industry by building an agile and responsive ecosystem that leverages real-time insights for on-demand production. This innovative approach minimizes production waste at its source and substantially reduces excess inventory by increasing production only when there is genuine market demand. This not only benefits the companies involved but also promotes sustainability and responsible manufacturing practices.
As a result of this acquisition, Missguided's products and collections will now be accessible to SHEIN's vast network of 150 million global users. These items will be available as an independent brand on SHEIN's platforms, and they will also be offered on Missguided.com, providing customers with a seamless and convenient shopping experience.
Source: SHEIN Acquires Missguided Brand
