Guangzhou Shein International Import & Export Co., Ltd. has announced the acquisition of Missguided, a womenswear brand of the British fashion retail group Fraser, and all its intellectual property rights.
SHEIN is an international B2C e-commerce company that focuses on women's apparel, but also offers men's apparel, children's apparel, accessories, shoes, bags, and other fashionable items. It empowers suppliers to work together to create an agile and flexible supply chain through a production-on-demand model in order to provide a wide range of products at cost-effective prices.
Currently, SHEIN has more than 30 hot recruiting categories, 11 private labels, and directly serves consumers in more than 150 countries and regions around the world.
Missguided is a British womenswear brand founded in 2009, focusing on the fusion of popular elements and innovation. Since its inception, it has achieved rapid growth in the UK and expanded its business to the US, Germany, Australia, etc. By 2020, Missguided's annual revenues reached £300 million, and in 2022, the brand was acquired by Fraser Group.
The global cross-border B2C e-commerce market size was USD 793.7 billion in 2021 and is expected to reach USD 3042.2 billion by 2028, growing at a CAGR of 25.1% during the period. The emergence of mobile devices and digital payment methods are the major factors driving the growth of the cross-border e-commerce market.
SHEIN focuses on the U.S. and European markets and seeks to launch in the U.S. as soon as 2024.In May 2021, SHEIN replaced Amazon as the most downloaded shopping app on iOS and Android platforms in the U.S., according to app tracking firms App Annie and Sensor Tower.
In the age of information technology, the market prospect of cross-border e-commerce is particularly broad, and many enterprises have joined this track. In China, there are Alibaba(阿里巴巴), Sunda(森大), Hooya(豪雅), etc. Overseas, there are large enterprises such as Amazon, eBay and Esty.
The acquisition of the Missguided brand is also part of SHEIN's initiative to accelerate and deepen the globalization and localization of its brands. According to the partnership agreement, after the acquisition of Missguided, SHEIN will manufacture the brand with its unique flexible supply chain system and will also be responsible for the brand's online sales.