As part of the deal, Shein will license Missguided’s intellectual property to Sumwon Studios, a joint venture between Shein and Missguided’s founder, Nitin Passi.
has struck its second big deal in less than a week with the acquisition of the Manchester, England-based online brandShein, which is headquartered in Singapore, offers branded apparel and products from a global network of vendors and targets a young, primarily female customer.
The model allows Shein to use real-time insights to gauge demand for its new designs. It responds with increased production only when there is actual market demand, enabling it to reduce waste and keep inventories tight.Donald Tang, Shein’s executive chairman, said the joint venture “ushers in a new format of partnerships for Shein as part of our unwavering commitment to meet customer demand.”
Missguided had appointed Teneo Financial Advisory as administrator after a winding-up petition was issued by its suppliers, which were owed millions.