Mike Ashley eyes Missguided sale to Shein
The deal is ‘likely’ to encompass Missguided’s brand and other intellectual property, with its head office retained by Ashley’s company
Mike Ashley is looking to sell the online clothing label Missguided to the Chinese-founded online fashion platform, Shein, Sky News has reported.
It is understood that the two sides have been in negotiations about a deal for several weeks, which would represent Shein’s first acquisition of a British fashion brand. However, it’s unclear how soon it might be announced or if there is risk of it falling apart.
The deal is “likely” to encompass Missguided’s brand and other intellectual property, with its head office retained by Ashley’s company.
Shein, which is reported to have valued at approximately $66bn (£53bn) and operated in more than 150 countries, is said to be worth more than H&M and Zara’s parent company, Inditex, combined.
Now headquartered in Singapore, the company has ambitions of going public in the US in the next 12 months, and is lining up investment banks to handle an initial public offering.
Frasers Group owns brands as diverse as Evans Cycles, Game, Gieves and Hawkes, House of Fraser, Jack Wills and Sports Direct.
Frasers also owns Missy Empire and ISawItFirst, two other female-focused, digitally-led fashion brands, leading it to conclude that Missguided is not central to its ambitions in that area of the clothing market, according to one source.
Frasers and Shein declined to comment.
