Chinese clothes big Shein is shopping for the Missguided model title from Frasers Group little greater than a yr after the British agency rescued the enterprise.

Frasers introduced that it was promoting Missguided’s mental property and emblems to Shein.

But it’s retaining the actual property in addition to Missguided’s staff, each ofwhich “have now been integrated into Frasers’ fashion division”.

Shein pledged to make use of its e-commerce experience to “reignite” the model.

Frasers purchased Missguided out of administration final June for £20m.

Michael Murray, the chief government of Frasers Group and the son-in-law of the agency’s founder Mike Ashley, stated the corporate wished to rationalise its enterprise to concentrate on fewer manufacturers. The firm didn’t reveal how a lot it offered the model for.

Frasers owns an enormous and various variety of retailers corresponding to Sports Direct, Flannels, Jack Wills, Evans Cycles and couch.com.

It has additionally constructed stakes within the likes of Boohoo, the place Frasers Group is the most important shareholder, in addition to Asos.

Frasers has different fast-fashion, on-line manufacturers corresponding to I Saw It First and Missy Empire. Mr Murray stated that the corporate had been in discussions with Shein about potential collaboration throughout each corporations.

Missguided was based in 2009 by Cheshire-born Nitin Passi and grew to turn out to be one of many UK’s greatest on-line trend companies, specializing in youthful girls.

On its website, Missguided declares that “babe power is at the heart of our brand” and “we believe in championing young talent and real women”.

After affected by provide chain points, rising freight prices and rising competitors from rivals, Missguided fell into administration in May 2022 earlier than being purchased

Commenting on the deal, Shein government chairman Donald Tang, stated: “Shein aims to reignite the Missguided brand, capitalising on its unique brand personality, and fuelling its global growth through Shein’s on-demand production model, unparalleled e-commerce expertise and global reach.”