Shein, the China-founded fast-fashion retailer, has bought the intellectual property (IP) of British online clothing business Missguided from Mike Ashley’s Frasers Group, Frasers said on Monday, adding the companies could collaborate further.
The deal will see Shein buy the IP and trademarks of Missguided, while Frasers will retain Missguided’s real estate and employees that have been integrated into Frasers’ fashion division.
Financial details of the deal were not disclosed.