Shein has just acquired British fashion brand Missguided for an "undisclosed amount."
👉 Background: Shein is the Chinese-founded fashion retailer worth $64 billion USD. It's known for its trendy and cheap clothing...not to forget the controveries over its environment impact.
👉 What happened: Now, Shein has just acquired British fashion brand Missguided for an "undisclosed amount." As part of the deal, Shein gets access to Missguided's IP and will take over the manufacturing and distribution of Missguided products to "reignite the Misguided brand."
👉 What else: With an acquisition like this, it shows that Shein is trying to make serious inroads into the Western fashion market to challenge H&M and Zara.
💡The fashion industry playbook is changing and Shein's acquisition of Missguided shows a power shift in the fast fashion industry.
💡In the past, Western fashion brands like H&M and Zara largely saw China as a source of labour and affordable manufacturing. But, Shein's growth into a multi-billion dollar fashion beast has challenged that perception.
💡The hashtag #sheinhaul dominated other e-commerce hashtags and received over 4.8 billion views on TikTok in 2022. And with the acquisition of Missguided, Shein has made a jump from a Chinese brand to a company coveted by customers in the Western World.
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