Shein and Forever 21 Become Frenemies With Investment Deal

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 50%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Shein acquired a stake in rival fast-fashion retailer Forever 21 to expand its online offerings and establish a brick-and-mortar presence in the US.

The Singapore-based retailer, which already generates a large portion of its sales in the US, is trying to shift to an Amazon-style marketplace where sellers can list their own products alongside those manufactured by Shein. Forever 21 products will be available to Shein’s 150 million online customers, according to a statement.

In the deal, Shein acquired about one-third of Sparc Group, which owns Forever 21 through a joint venture that includes Authentic Brands Group Inc. and Simon Property Group Inc. In return, Sparc Group became a minority shareholder in Shein. Specific financial figures weren’t disclosed.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 83. in BE

Belgique Dernières Nouvelles, Belgique Actualités