Shein sets foot in the UK and is gaining prominence in the fashion world through its purchases. The Chinese e-commerce giant, which in recent years has become one of the largest fashion distributors in Europe and the United States, announced that it has acquired the intellectual property of British brand Missguided. In parallel, Shein set out to build a UK-based product teamas mentioned above Curtains.
So far, Missguided was owned by Frasers GroupWhich saved it from bankruptcy last year. Frasers will retain the brand’s staff and stores, which will be included within the group.
The British company has framed the sale as part of its strategy of “disciplined management of its brand portfolio.” “With I Saw it First and Missy Empire, we have a presence in the online women’s fashion segmentsaid Michael Murray, CEO of Fraser.
Shein leaves the door open for new corporate operations
The executive confirms that the sale will allow the group to focus on a smaller number of brands, “which makes a lot of sense in the current environment.” “We are also excited about the potential collaboration between Frasers and Shein,” adds the executive.
to Shane, “This collaboration marks the beginning of a new form of partnerships.” Donald Tang, CEO of the Chinese group, stepped forward, opening the door to more corporate operations.
Missguided will be jointly managed by brand founder Nitin Passi, and its collections will be manufactured according to the model of Shein, which produces on demand thanks to its proximity to its manufacturers. Missguided products will be available on Shein’s website and on the company’s own platform.
In conjunction with this purchase, the Chinese group has also appointed Gemma Dunne as new product director, with the aim of creating a new team based in Manchester, it was announced. Curtains.
The CEO was previously CPO for PrettyLittleThingIt is a British company with a model similar to Shein and is owned by the e-commerce group Boohoo.
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