Singapore headquartered Shein is said to be close to acquiring the Missguided brand and IP from Frasers. Frasers acquired Missguided out of administration last year for £20m.
Shein is currently facing lawsuits from a trio of US designers for unlawfully copying their designs under America’s Racketeer and Corrupt Organizations Act and has gained a poor reputation in the fashion sector for its persistent copying. It particularly targets the work of smaller designers presumably because they are unlikely to have the resources to mount a legal fight.
It is being reported that the deal with Shein, which may be window dressing by the Far East fast fashion giant, would see it acquiring the brand and IP, but with Frasers retaining the UK head office for Missguided.
Watch this space.