SHEIN has acquired the IP for the Missguided brand from Frasers Group for an undisclosed sum. The deal will see SHEIN, which generated £1bn in UK sales alone last year, manage and license Missguided through Sumwon Studios , the JV between Missguided founder Nitin Passi and SHEIN. It will manufacture garments to be sold on the Missguided website as well as via its own website, the latter affording access to some 150 million global users.
Frasers Group is retaining Missguided’s offices and staff which it has absorbed into its fashion division.
Michael Murray, CEO, Frasers Group commnented: “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 collaborations between Frasers Group and SHEIN.”
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