Retail

Shein buys Missguided brand from Mike Ashley’s Fraser Group

Deal marks Chinese fast fashion giant’s first UK acquisition

Shein is valued at around €60 billion, having expanded around the world and bought many of its rivals. Picture: Ore Huiying/Bloomberg

Shein, the Chinese-founded fast-fashion giant, has made its first acquisition in the UK, buying women’s clothing brand Missguided for an undisclosed amount.

The company said it plans to “reignite” the brand, which was bought out of administration just a year and a half ago by Mike Ashley’s Frasers Group.

The deal will see Singapore-headquartered Shein buy Missguided’s intellectual property and trademarks.

But the Manchester-based company’s staff and real estate will stay with Frasers, which has ...