Frasers Group sells Missguided to Shein, JV including Nitin Passi to run it

There’s been speculation for a while and on Monday it was finally confirmed, Frasers Group has sold digital fashion retailer Misguided to Shein.

Frasers said it “has divested the IP of Missguided to Shein, in line with its disciplined approach to managing its portfolio of brands”. It had bought the company out of administration in summer 2022.

And while Shein has bought the IP and trademarks, it looks like it could be a rare deal that doesn’t come with job losses as Frasers “will retain Missguided’s real estate and employees, which have now been integrated into Frasers’ fashion division”.

It also said the deal has “enabled exciting discussions with Shein around opportunities for potential collaboration across our brand portfolio”.

Frasers CEO 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 also excited about the ongoing discussions around further collaboration between Frasers Group and Shein.”

Meanwhile, Shein said it had acquired the “bold and forward-thinking women’s fashion brand… furthering the company’s efforts to meet customer demand for product variety and consistently deliver an exciting customer experience.”

And in a full circle for the label, it added that it has entered into an agreement to license the Missguided brand IP to Sumwon Studios, a joint venture between Shein and Missguided’s founder Nitin Passi. 

Missguided will be managed through the joint venture and its products and collections will be manufactured through Shein’s on-demand production model, and sold on Shein sites, as well as on Missguided.com.

Shein executive chairman Donald Tang explained: “The joint venture we have entered ushers in a new format of partnerships, as part of our unwavering commitment to meet customer demand. Shein aims to reignite the Missguided brand, capitalising on its unique brand personality, and fuelling its global growth.”