{"id":249340,"date":"2023-09-18T13:00:10","date_gmt":"2023-09-18T13:00:10","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=249340"},"modified":"2023-09-18T10:47:41","modified_gmt":"2023-09-18T10:47:41","slug":"frasers-group-in-talks-to-offload-missguided","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/frasers-group-in-talks-to-offload-missguided\/","title":{"rendered":"Frasers Group in Talks to Offload Missguided"},"content":{"rendered":"<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bnreport.com\/en\/\"><strong>BNR<\/strong> <\/a>&#8211; Reports have emerged that <a href=\"https:\/\/frasers.group\/\">Frasers Group<\/a>, led by entrepreneur Mike Ashley, is engaged in Missguided sale discussions with Shein.<\/p>\n<p style=\"text-align: justify;\">Reportedly, there is a potential sale of the Missguided clothing brand, a development that is just one year after Frasers Group acquired the retailer.<\/p>\n<p style=\"text-align: justify;\">The acquisition occurred in the wake of the fashion retailer\u2019s collapse into administration, with a purchase price of \u00a320 million.<\/p>\n<p style=\"text-align: justify;\">It is suggested that any potential agreement would involve <a href=\"https:\/\/us.shein.com\/\">Shein<\/a> acquiring the Missguided brand along with other intellectual property.<\/p>\n<p style=\"text-align: justify;\">However, it will allow the brand\u2019s head office to remain under the ownership of Frasers Group.<\/p>\n<p style=\"text-align: justify;\">Both Frasers Group and Shein have refrained from providing official comments on the ongoing discussions.<\/p>\n<h1 style=\"text-align: left;\"><strong>Leading Fashion Retailer<\/strong><\/h1>\n<p style=\"text-align: justify;\">Missguided was established by Nitin Passi in 2009 and subsequently evolved into one of the UK\u2019s leading online fashion entities.<\/p>\n<p style=\"text-align: justify;\">Despite its early success, it encountered challenges related to supply chain disruptions, surging freight expenses, and intensifying competition from rivals. Ultimately, Frasers Group assumed ownership of the brand.<\/p>\n<p style=\"text-align: justify;\">Frasers Group has experienced substantial growth by acquiring distressed brands, including Game, Evans Cycles, Jack Wills, and Sofa.com.<\/p>\n<p style=\"text-align: justify;\">Although Mike Ashley no longer serves as the Chief Executive of Frasers Group, he still retains a majority stake.<\/p>\n<p style=\"text-align: justify;\">On the other hand, Shein has solidified its position as a global powerhouse in the realm of fast fashion.<\/p>\n<p style=\"text-align: justify;\">The company witnessed a surge in sales during the Covid-19 pandemic, primarily driven by the increased online shopping during lockdowns.<\/p>\n<p style=\"text-align: justify;\">Earlier this year, Shein\u2019s market valuation stood at approximately $66 billion, although it represented a decline from a prior valuation of roughly $100 billion.<\/p>\n<p style=\"text-align: justify;\">There have been speculations that Shein is considering a listing of its shares in the United States.<\/p>\n<h2 style=\"text-align: left;\"><strong>Missguided Acquisition: Shein Forced Labour Allegations<\/strong><\/h2>\n<p style=\"text-align: justify;\">However, in May, a group of US lawmakers called for an investigation into Shein amid forced labour allegations.<\/p>\n<p style=\"text-align: justify;\">People from the Chinese Uyghur Muslims were reportedly forced to work in the production of some of the company products.<\/p>\n<p style=\"text-align: justify;\">The US and UK governments, as well as human rights groups, have accused China of committing crimes against humanity with regard to the Uyghur people.<\/p>\n<p style=\"text-align: justify;\">However, in response to these allegations, Shein asserted its \u201czero tolerance for forced labour.\u201d<\/p>\n<p style=\"text-align: justify;\">It also emphasised the strict adherence of its suppliers to a code of conduct aligned with the International Labour Organisation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNR &#8211; Reports have emerged that Frasers Group, led by entrepreneur Mike Ashley, is engaged in Missguided sale discussions with Shein. Reportedly, there is a potential sale of the Missguided clothing brand, a development that is just one year after Frasers Group acquired the retailer. The acquisition occurred in the wake of the fashion retailer\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":249341,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278,12600,12597,12598,12596,12599],"class_list":["post-249340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured","tag-forced-labour-shein","tag-frasers-group","tag-missguided","tag-shein","tag-uyghur"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Frasers Group in Talks to Offload Missguided - Business News Report<\/title>\n<meta name=\"description\" content=\"BNR - Reports have emerged that Frasers Group, led by entrepreneur Mike Ashley, is engaged in Missguided sale discussions with Shein.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/frasers-group-in-talks-to-offload-missguided\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Frasers Group in Talks to Offload Missguided - 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