The Chinese electric giant Shein will buy the MissGuided brand under Frasers Group.

The parties indicated on Monday that Heeing had agreed to purchase the British online dress brand MissGuided from the retailer Frasers, and that the amount of the transaction was not disclosed.

Frassers stated that the transaction involved intellectual property and trademarks of the brand and also stated that Missguided ' s real estate assets and employees would be retained. These employees were integrated into the Fashion Department of Frasers.

Chief Executive Officer of Frasers, Michael Murray, stated that “it would be reasonable in the current circumstances to retain the merged Frasers' fashion team while rationalizing our portfolio in this area and focusing on fewer brands”.

Heeing indicated that an agreement had also been signed to authorize the intellectual property rights of the Missguided brand to Sumwon Studios. The latter is a joint venture between Heeing and Nitin Passi, founder of MissGuided, which will manage the MissGuided brand. Heeing states that the products and series of MissGuided will be produced through a needs-based production pattern of Heeing and sold as a stand-alone brand on the Heeing website and MissGuided.com.

Executive Chairman Donald Tang said that the joint venture that we had established had opened a new model of cooperation for Heeing, one of our unwavering commitment to meeting client needs.

The deal was a rare acquisition of the Western brand by Heeing. In recent years, Heathing has grown rapidly, selling low-cost clothing to consumers around the globe. The retailer is currently in a transition from online sales of his own branded clothing to a platform that allows third-party sellers to enter.

Despite the low incidence of direct acquisitions by Hieing, the company has expanded through investment. At the end of August, Hizb ut-e-e-e, a Forever 21 operator, was able to sell the branded dress, jeans and accessories on his home website.

Tang Wei said at the time that, with the expansion of Heeing, more third-party brands were needed and that Heeing could not produce all the products it sold.

The sports fashion retailer Frasers acquired the MissGuided brand in June 2022 at a price of £20 million (approximately US$24.2 million), when an online retailer based in Manchester was forced into bankruptcy proceedings due to financial difficulties. Most of Frasers' shares were held by former CEO Michael Ashley.