Fast fashion behemoth Shein acquires Frasers Group's Missguided

Shein, a Chinese clothing company, is acquiring the Missguided brand name from Frasers Group, which rescued the company less than a year ago.

Frasers disclosed to Shein that it was selling Missguided's trademarks and intellectual property.

That being said, Missguided's staff members "have now been integrated into Frasers' fashion division," and the real estate will remain.

For £20 million last June, Frasers purchased Missguided out of bankruptcy.

Frasers Group's CEO, Michael Murray, who is also the son-in-law of the company's founder, Mike Ashley, stated that the company aims to streamline its operations in order to concentrate on a smaller number of brands. The brand's sale price was not disclosed by the corporation.

Founded in 2009 by Nitin Passi, a native of Cheshire, Missguided quickly rose to prominence as one of the largest online fashion retailers in the UK, catering primarily to younger consumers.

"Baby power is at the heart of our brand," according to Missguided's website, and "we believe in championing young talent and real women."

Shein was acquired in May 2022 after going into administration due to supply chain problems, growing freight costs, and heightened competition from competitors.

Executive chairman Donald Tang of Shein commented on the agreement, saying that Shein wanted to use its global reach, on-demand production model, and unmatched e-commerce know-how to fuel the global growth of Missguided and revitalize the brand.