Chinese fashion giant it is in It is buying the brand Wrong From Frasers Group just over a year after the British company rescued the company.
Fraser announced that they were Selling Missguided’s intellectual property and trademark to Shein.
But he maintains real estate, as do Missguided employees, both of them “They have now been integrated into the Fraser Fashion Department.”
Shein promised to use its e-commerce expertise To “revive” the brand.
Sheen will use Missguided, retail analyst Katherine Shuttleworth said “Increasing its support in the West and increasing sales in the UK.”
Michael Murray, chief executive of Frasers Group and son-in-law of company founder Mike Ashley, said the company wanted to rationalize its business by focusing on smaller brands. Company She did not reveal the amount for which she sold the brand.
Frasers has a wide range of retailers such as Sports Direct, Flannels, Jack Wills, Evans Cycles and Sofa.com.
Global fashion giant Shein was founded in China in 2008 Now its headquarters are located in Singapore.
for you Sales increased during the Covid pandemic, Fueled by a boom in online shopping.
it is in Its value was estimated at approximately US$66 billion earlier this yearAlthough this was lower than the previous valuation of US$100 billion.
According to the company’s website It employs about 10,000 people around the world and sells its products to more than 150 countries.
a Wrong It was founded in 2009 by Nitin Passi and has grown into One of the largest online fashion companies in the UKwith a focus on younger women.
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