Frasers Group has sold Missguided’s intellectual property to online fast fashion giant Shein and flagged the potential for future collaboration between the pair.
Frasers offloaded Missguided for an undisclosed sum and said the deal was “in line with its disciplined approach to managing its portfolio of brands”.
Under the terms of the deal, Shein will purchase Missguided’s intellectual property and trademarks. Frasers will keep Missguided’s real estate and retain its employees, who have been integrated into Frasers’ fashion division.
Frasers said: “This transaction has enabled exciting discussions with Shein around opportunities for potential collaboration across our brand portfolio.”
Frasers chief executive Michael Murray said: “With I Saw it First and Missy Empire, we now have a foothold in women’s digital-first fashion. 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.
“We are excited about the ongoing discussions around further collaboration.”
Separately, Frasers is considering a bid for online cycling retailer Wiggle, according to Sky News. Wiggle collapsed into administration last week. Frasers already owns Evans Cycles.
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