Chinese clothing giant Shein is buying the Missguided brand name from Frasers Group little more than a year after the British firm rescued the business.
Frasers announced that it was selling Missguided’s intellectual property and trademarks to Shein.
But it is retaining the real estate as well as Missguided’s employees, both of which “have now been integrated into Frasers’ fashion division”.
But it is retaining the real estate as well as Missguided’s employees, both of which “have now been integrated into Frasers’ fashion division”.
Retail analyst Catherine Shuttleworth said Shein would use Missguided to “increase its foothold in the West and drive sales in the UK”.
She said Missguided appealed to a targeted market of younger shoppers, which Shein would be looking to tap into.
Frasers bought Missguided out of administration last June for £20m.
Michael Murray, the chief executive of Frasers Group and the son-in-law of the firm’s founder Mike Ashley, said the company wanted to rationalise its business to focus on fewer brands. The company did not reveal how much it sold the brand for.
Frasers owns a huge and diverse number of retailers such as Sports Direct, Flannels, Jack Wills, Evans Cycles and sofa.com.
Chinese clothing giant Shein is buying the Missguided brand name from Frasers Group little more than a year after the British firm rescued the business.
But it is retaining the real estate as well as Missguided’s employees, both of which “have now been integrated into Frasers’ fashion division”.
Frasers announced that it was selling Missguided’s intellectual property and trademarks to Shein.
Retail analyst Catherine Shuttleworth said Shein would use Missguided to “increase its foothold in the West and drive sales in the UK”.
But it is retaining the real estate as well as Missguided’s employees, both of which “have now been integrated into Frasers’ fashion division”.
But it is retaining the real estate as well as Missguided’s employees, both of which “have now been integrated into Frasers’ fashion division”.
Retail analyst Catherine Shuttleworth said Shein would use Missguided to “increase its foothold in the West and drive sales in the UK”.
She said Missguided appealed to a targeted market of younger shoppers, which Shein would be looking to tap into.
Frasers bought Missguided out of administration last June for £20m.
Michael Murray, the chief executive of Frasers Group and the son-in-law of the firm’s founder Mike Ashley, said the company wanted to rationalise its business to focus on fewer brands. The company did not reveal how much it sold the brand for.
Frasers owns a huge and diverse number of retailers such as Sports Direct, Flannels, Jack Wills, Evans Cycles and sofa.com.
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