{"id":143226,"date":"2023-10-30T10:48:27","date_gmt":"2023-10-30T10:48:27","guid":{"rendered":"https:\/\/theprojectsworld.com\/?p=143226"},"modified":"2023-10-30T10:48:27","modified_gmt":"2023-10-30T10:48:27","slug":"shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun","status":"publish","type":"post","link":"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/","title":{"rendered":"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun"},"content":{"rendered":"

A MAJOR online fashion brand has been sold to a discount rival. <\/p>\n

Mike Ashley's the Frasers Group has reached a deal with e-commerce giant Shein.<\/p>\n

<\/p>\n

It marks Shein's first purchase of a British fashion brand. <\/p>\n

The sale, for an undisclosed sum, includes the intellectual property and trademarks of Missguided.<\/p>\n

Shein will make the products and they will be sold on its website and on Missguided.com.<\/p>\n

The company is valued at around \u00a353billion, having expanded around the world and bought many of its rivals.<\/p>\n

READ MORE IN MONEY<\/h2>\n

<\/picture>NEW DEAL<\/span><\/p>\n

Missguided in talks to be sold to Chinese fashion retailer Shein <\/h3>\n

<\/picture>SAVED JUST IN TIME <\/span><\/p>\n

Missguided SAVED after Mike Ashley\u2019s Frasers Group buys online retailer<\/h3>\n

Shein executive chairman Donald Tang said: "The joint venture we have entered ushers in a new format of partnerships for Shein, as part of our unwavering commitment to meet customer demand.<\/p>\n

\u201cShein aims to reignite the Missguided brand, capitalising on its unique brand personality, and fuelling its global growth through Shein\u2019s on-demand production model, unparalleled e-commerce expertise and global reach."<\/p>\n

Frasers will still keep the brand's workers and real estate though, which have become part of the company\u2019s fashion division.<\/p>\n

Chief executive Michael Murray said the company has \u201ca foothold\u201d in women\u2019s digital-first fashion and hinted of collaboration with Shein.<\/p>\n

Most read in Money<\/h2>\n

<\/picture>SHUTTERS UP <\/span><\/p>\n

Iconic fashion chain could return to high streets if bought by Ted Baker owner<\/h3>\n

<\/span><\/p>\n

<\/picture>BILL HACK <\/span><\/p>\n

Exact temperature to heat your home to stop mould from forming<\/h3>\n

<\/span><\/p>\n

<\/picture>NICE FRY <\/span><\/p>\n

I made air fryer toad in the hole & slashed my bills – you’ll need a crucial item<\/h3>\n

<\/span><\/p>\n

<\/picture>IN THE BAG<\/span><\/p>\n

You\u2019ve been using Tesco self-service checkout all wrong<\/h3>\n

<\/span><\/p>\n

\u201cRetaining 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,\u201d he said.<\/p>\n

It comes just over year after the Frasers snapped up the troubled retailer in June 2022. <\/p>\n

Missguided had collapsed into administration\u00a0after suppliers accused the business of millions of pounds worth of outstanding payments.<\/p>\n

But Frasers Group, which also owns Sports Direct and House of Fraser, confirmed it had bought the intellectual property of the retailer and sister brand Mennace for around \u00a320million.<\/p>\n

In July,\u00a0The Sun reported\u00a0that the retail empire saw pre-tax profits almost double from \u00a3335.6million to \u00a3660.7million in the year to the end of April.<\/p>\n

Its boost in profits came as the group \u2014 which now includes brands and businesses ranging from\u00a0Agent Provocateur\u00a0to Sofa.com, Gieves & Hawkes and Flannels \u2014 saw sales rise by 15.8 per cent to \u00a35.6billion.<\/p>\n

Missguided, a Manchester-based company, was set up in 2009 by\u00a0Nitin Passi with a \u00a350,000 loan from his father Danny, a clothing supplier multi-millionaire.<\/p>\n

By the mid 2010s, the company had become a big name in the industry amid competitors\u00a0Boohoo,\u00a0Nasty Gal\u00a0and\u00a0Pretty Little Thing.<\/p>\n

It comes just a week after a huge UK sofa chain was sold to a new owner in a deal worth \u00a3100million.<\/p>\n

ScS\u00a0was snapped up by Poltronesofa, which already has hundreds of locations across the rest of\u00a0Europe.<\/p>\n

Earlier this month a high street fashion chain with 180 stores across the UK has been sold to Next.<\/p>\n

FatFace, the leading British lifestyle retailer, was acquired by\u00a0Next\u00a0for the value of \u00a3115.2million.<\/p>\n

Read More on The Sun<\/h2>\n

<\/picture>SANTA'S ELVES <\/span><\/p>\n

Highest paying Christmas temp jobs revealed \u2013 earn up to \u00a315.36 an hour<\/h3>\n

<\/picture>big issues <\/span><\/p>\n

Big Brother feud erupts as Olivia angers housemates and fans rage \u2018get her out\u2019<\/h3>\n<\/p>\n

Do you have a money problem that needs sorting? Get in touch by emailing\u00a0money-sm@news.co.uk<\/strong>.<\/p>\n

You can also join our new Sun Money Facebook group to share stories and tips and engage with the consumer team and other group\u00a0members.<\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A MAJOR online fashion brand has been sold to a discount rival. Mike Ashley's the Frasers Group has reached a…<\/p>\n","protected":false},"author":2,"featured_media":143225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nShein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun - The Projects World<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun - The Projects World\" \/>\n<meta property=\"og:description\" content=\"A MAJOR online fashion brand has been sold to a discount rival. Mike Ashley's the Frasers Group has reached a…\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/\" \/>\n<meta property=\"og:site_name\" content=\"The Projects World\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-30T10:48:27+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/theprojectsworld.com\/wp-content\/uploads\/2023\/10\/Shein-buys-up-huge-fashion-UK-brand-from-Mike-Ashleys-Frasers-Group-as-it-eyes-expansion-The-Sun.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/\",\"url\":\"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/\",\"name\":\"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun - The Projects World\",\"isPartOf\":{\"@id\":\"https:\/\/theprojectsworld.com\/#website\"},\"datePublished\":\"2023-10-30T10:48:27+00:00\",\"dateModified\":\"2023-10-30T10:48:27+00:00\",\"author\":{\"@id\":\"https:\/\/theprojectsworld.com\/#\/schema\/person\/74db1979fe71b5ea01513ec1ce5bc609\"},\"breadcrumb\":{\"@id\":\"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/theprojectsworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lifestyle\",\"item\":\"https:\/\/theprojectsworld.com\/category\/lifestyle\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/theprojectsworld.com\/#website\",\"url\":\"https:\/\/theprojectsworld.com\/\",\"name\":\"The Projects World\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/theprojectsworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/theprojectsworld.com\/#\/schema\/person\/74db1979fe71b5ea01513ec1ce5bc609\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/theprojectsworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d7cef2e0d8d634cb49d54f7c48b549a1?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d7cef2e0d8d634cb49d54f7c48b549a1?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun - The Projects World","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/","og_locale":"en_US","og_type":"article","og_title":"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun - The Projects World","og_description":"A MAJOR online fashion brand has been sold to a discount rival. Mike Ashley's the Frasers Group has reached a…","og_url":"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/","og_site_name":"The Projects World","article_published_time":"2023-10-30T10:48:27+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/theprojectsworld.com\/wp-content\/uploads\/2023\/10\/Shein-buys-up-huge-fashion-UK-brand-from-Mike-Ashleys-Frasers-Group-as-it-eyes-expansion-The-Sun.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/","url":"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/","name":"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun - The Projects World","isPartOf":{"@id":"https:\/\/theprojectsworld.com\/#website"},"datePublished":"2023-10-30T10:48:27+00:00","dateModified":"2023-10-30T10:48:27+00:00","author":{"@id":"https:\/\/theprojectsworld.com\/#\/schema\/person\/74db1979fe71b5ea01513ec1ce5bc609"},"breadcrumb":{"@id":"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/theprojectsworld.com\/lifestyle\/shein-buys-up-huge-fashion-uk-brand-from-mike-ashleys-frasers-group-as-it-eyes-expansion-the-sun\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/theprojectsworld.com\/"},{"@type":"ListItem","position":2,"name":"Lifestyle","item":"https:\/\/theprojectsworld.com\/category\/lifestyle\/"},{"@type":"ListItem","position":3,"name":"Shein buys up huge fashion UK brand from Mike Ashley\u2019s Frasers Group as it eyes expansion | The Sun"}]},{"@type":"WebSite","@id":"https:\/\/theprojectsworld.com\/#website","url":"https:\/\/theprojectsworld.com\/","name":"The Projects World","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/theprojectsworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/theprojectsworld.com\/#\/schema\/person\/74db1979fe71b5ea01513ec1ce5bc609","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/theprojectsworld.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d7cef2e0d8d634cb49d54f7c48b549a1?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d7cef2e0d8d634cb49d54f7c48b549a1?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/posts\/143226"}],"collection":[{"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/comments?post=143226"}],"version-history":[{"count":0,"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/posts\/143226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/media\/143225"}],"wp:attachment":[{"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/media?parent=143226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/categories?post=143226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theprojectsworld.com\/wp-json\/wp\/v2\/tags?post=143226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}