17th Sep 2023 16:58
(Alliance News) - Frasers Group PLC is in negotiations to sell its online clothing brand Missguided, to Chinese firm Shein, Sky News reported on Saturday.
Frasers also owns House of Fraser, Sports Direct and Flannels retail chains.
Sky News said the potential deal, which the firms have been discussing for "several weeks" would be Shein's first British fashion brand acquisition.
https://news.sky.com/story/high-street-tycoon-ashley-to-sell-missguided-to-chinese-giant-shein-12962346
The deal would likely see the head office retained by Fraser's, but would include Missguided's brand and intellectual property.
Sky said the now Singapore-based Shein is valued at roughly USD66 billion, at one point having been worth more than USD100 billion - more than competitors H&M and Inditex combined.
Frasers shares closed at 804.50 pence each on Friday in London.
By Harvey Dorset, Alliance News reporter
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