Online retailer, SHEIN, has completed its takeover of Missguided, a women’s fashion brand from Mike Ashley’s Frasers Group.
It comes little more than a year since the company fell into administration and was bought out by Frasers Group. The brand was relaunched earlier this year. SHEIN said it will license the Missguided brand IP to SUMWON Studios, a joint venture between SHEIN and Missguided’s founder, Nitin Passi.
The brand will be managed through the joint venture, and its products will be manufactured through SHEIN’s on-demand production model, and sold on SHEIN sites.
“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” said Donald Tang, SHEIN’s Executive Chairman.
He added: “SHEIN aims to reignite the Missguided brand, capitalising on its unique brand personality, and fuelling its global growth through SHEIN’s on-demand production model, unparalleled e-commerce expertise and global reach.”
Missguided was launched in 2009, experiencing rapid growth in the UK before expanding into the US, Australia, France and Germany. In June 2022, it was announced that Frasers Group had bought the intellectual property of Missguided and its sister brand Mennace for around £20 million following reports that the company had gone into administration.
In August, SHEIN further expanded its portfolio when it announced a deal with SPARC Group that allows it test customer-focused experiences in Forever 21 stores across the U.S.