Shein buys Missguided brand from Britain’s Frasers
E-commerce Shein, the China-founded fast-fashion retailer, has bought the Missguided brand from Mike Ashley’s Frasers Group, the e-commerce giant’s first purchase of a British brand. Frasers said on Monday, Shein will acquire the intellectual property and trademarks of Missguided, while Frasers will retain its real estate and employees which have now been integrated into Frasers’ fashion division. Shein says it has entered into an agreement to license the Missguided brand IP to Sumwon Studios, a joint venture between Shein and…