Shein strikes deal with forever 21 parent company Sparc Group.

SHEIN , the renowned Chinese fast fashion retailer, has entered into a strategic collaboration with SPARC Group LLC , the owner of Forever 21 . This partnership marks a significant move for both companies.

In this arrangement, Shein will acquire an approximate one-third stake in SPARC Group, a joint venture that encompasses not only Authentic Brands Group but also Simon Property Group. Conversely, SPARC Group will become a minority shareholder within Shein.

Notably, SPARC Group has highlighted that Shein's exceptional expertise in the realm of ecommerce and its expansive global reach will serve as a robust platform to further amplify its own brand portfolio. This collection includes well-known names like Eddie Bauer, Nautica, and Lucky Brand.

The collaboration is set to yield benefits for both parties. Shein will gain the opportunity to experiment with customer-centric initiatives within the Forever 21 retail locations scattered across the United States. This involves establishing shop-in-shop concepts and introducing novel strategies such as facilitating in-store returns.

Marc Miller , the Chief Executive of SPARC Group, expressed his enthusiasm for the partnership, underlining that it resonates with their shared vision of granting customers unparalleled access to fashion that remains affordable. The joint efforts are anticipated to result in the creation of pioneering and trendsetting fashion products that will captivate fashion enthusiasts worldwide.

Donald Tang, the Executive Chairman of Shein, echoed this sentiment by stating his excitement over having SPARC Group as a partner and minority shareholder. He eagerly anticipates discovering fresh avenues through which to enhance customer satisfaction through this collaboration. The partnership harnesses the strengths of all entities involved: Simon's leadership in the physical retail space, Authentic's adeptness in brand development, and Shein's innovative on-demand model. Together, these elements will fuel scalable growth, ultimately working towards the collective goal of making fashion accessible to a wider spectrum of individuals.