Shein, which is one of two market leaders in China, acquired the intellectual property of Missguided which is now owned by the Frasers Group.

The agreement between the two also involves all Missguided trademarks, Missguided properties and employees will be preserved.

Missguided was founded in the year 2009 by Nitin Passi. With this agreement, licensing the intellectual property to Sumwon Studios, the market for the joint venture between Shein and Passi expands. Both products and collections will be sold on Shein sites.

“The joint venture we have entered into marks the beginning of a new format of partnerships for Shein, as part of our unwavering commitment to meeting customer demand,” said Donald Tang, CEO of Shein.

“Shein aims to revive the Missguided brand, capitalizing on its unique brand personality and driving its global growth through Shein’s on-demand production model, unparalleled e-commerce expertise and global reach,” added Tang.