SHEIN, Forever 21 parent company sign partnership
MANILA, Philippines — Fast fashion retailer SHEIN has signed a "strategic partnership" with the parent company of Forever21.
In a statement released today, August 25, SHEIN and SPARC Group announced their tie-up that will see the expansion of Forever21's distribution. According to the release, SHEIN's global e-commerce platform currently serves 150 million online users. Apart from this, the partnership also tests SHEIN's "customer-focused experiences in Forever 21 locations across the U.S including shop-in-shops."
With this agreement, SHEIN has approximately one-third interest in SPARC Group, a joint venture that includes Authentic Brands Group and Simon Property Group, and SPARC Group becomes a minority shareholder in SHEIN.
“We are excited for the partnership with SHEIN as it reflects our shared vision of providing customers with unparalleled access to fashion at affordable prices,” said Marc Miller, chief executive officer of SPARC Group. “By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world."
"SHEIN is thrilled to have SPARC Group as a partner and minority shareholder and we look forward to finding new ways to delight our customers through the potential of this partnership,” said Donald Tang, SHEIN’s executive chairman.
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