SHEIN has announced that it may test customer-focused experiences in Forever 21 stores across the U.S, following a new partnership with Forever 21’s parent company SPARC Group.
This would include shop-in-shops, enabling return to store and other initiatives, the e-commerce firm said. Under the agreement, SHEIN has acquired approximately one-third interest in SPARC Group, a joint venture that includes Authentic Brands Group and Simon Property Group. In return, SPARC Group has become a minority shareholder in SHEIN.
The deal follows other recent efforts by Shein to bridge the gap between e-commerce and physical retail. It has already hosted several pop-ups in the Europe, Middle East and Africa (EMEA) region this year with plans to host up to 30 in by the end of 2023. The company said it sees pop-ups as an integral part of the SHEIN business model as they allow consumers to engage with the brand and experience products first-hand. Shein also officially launched its headquarters for EMEA, in Dublin, in May.
Speaking on the new partnernship, Marc Miller, CEO of SPARC Group said: “We are excited for the partnership with SHEIN as it reflects our shared vision of providing customers with unparalleled access to fashion at affordable prices,” said. By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world.”
Donald Tang, SHEIN’s Executive Chairman added: “The powerful combination of Simon’s leadership in physical retail, Authentic’s brand development expertise, and SHEIN’s on-demand model will help us drive scalable growth and together make fashion more accessible to all.”
Photo by Bench Accounting via Unsplash
