Fast fashion giant Shane buys Missguided brand – BBC News

  • By Dearbail Jordan
  • Business Correspondent, BBC News

image source, Getty Images

Chinese clothing giant Shen is buying the Missguided brand from Frasers Group, just over a year after rescuing the British company from the business.

Fraser announced that she would sell the Missguided intellectual property and trademarks to Sheen.

But it is retaining the real estate as well as the Missguided staff, which are “now integrated into Fraser’s fashion division”.

Fraser bought Missguided for 20 million last June.

Fraser Group chief executive Michael Murray and son-in-law of the company’s founder, Mike Ashley, said the company wanted to rationalize its business to focus on smaller brands. The company did not disclose how much it sold the brand for.

Fraser owns a number of diverse retailers such as Sports Direct, Flannels, Jack Wills, Evans Cycles and sofa.com.

It has also built stakes in companies such as Boohoo, of which Frasers Group is the largest shareholder, as well as Asos.

Fraser has other online and fast fashion brands such as I Saw It First and Missy Empire. Mr. Murray said the company had discussed a possible collaboration between the two companies with Sheen.

Founded in 2009 by Cheshire-born Nitin Passi, Missguided has become one of the UK’s largest online fashion businesses focusing on young women.

Missguided stated on its site that “bebe power is at the heart of our brand” and “we believe in supporting young talent and real women”.

After suffering supply chain problems, rising shipping costs and increased competition from rivals, Shin went into administration in May 2022 ahead of a buyout.

Explaining the deal, Shin’s CEO Donald Tang said: Shin’s goal is to revitalize the Missguided brand, capitalize on its unique brand personality, and strengthen its global growth through Shin’s on-demand production model, unparalleled expertise in e-commerce and Access is global. “

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