Shein buys Missguided IP from Mike Ashley’s Frasers By Reuters

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<span>© Reuters. FILE PHOTO: A woman leaves a pop-up store of Chinese fast-fashion retailer Shein in Paris, France, May 5, 2023. REUTERS/Johanna Geron/File Photo</span><br />
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<p>LONDON (Reuters) &#8211; Shein, the China-founded fast-fashion retailer, has bought the intellectual property (IP) of British online clothing business Missguided from Mike Ashley&#8217;s Frasers Group, Frasers said on Monday, adding the companies could collaborate further.</p>
<p>The deal will see Shein buy the IP and trademarks of Missguided, while Frasers will retain Missguided&#8217;s real estate and employees that have been integrated into Frasers&#8217; fashion division.</p>
<p>Financial details of the deal were not disclosed.</p>
<p>&#8220;This transaction has enabled exciting discussions with Shein around opportunities for potential collaboration across our brand portfolio,&#8221; Frasers, formerly called <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Sports Direct </span></span> (LON:), said.</p>
<p>Frasers also owns the &#8220;I Saw it First&#8221; and &#8220;Missy Empire&#8221; brands in women&#8217;s online fashion.</p>
<p>&#8220;Retaining the combined Frasers fashion teams whilst rationalising our portfolio in this space to focus on fewer brands makes a lot of sense in the current climate,&#8221; Frasers CEO Michael Murray said. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/shein-buys-missguided-ip-from-mike-ashleys-frasers-3213167">Source link </a></p><p>The post <a href="https://forextraderhub.com/shein-buys-missguided-ip-from-mike-ashleys-frasers-by-reuters.html">Shein buys Missguided IP from Mike Ashley’s Frasers By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>