Tech Insider: Fast-Fashion Retailer Shein Buys U.K. Rival, Huawei Profits Soar

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Fast-fashion retailer Shein buys British rival Missguided

Chinese-founded fast-fashion retailer Shein has acquired British online fashion brand Missguided from Frasers Group Plc as part of its overseas expansion.

Under the deal, Shein and Missguided’s founder Nitin Passi have formed a joint venture to manage the brand and access its intellectual property under a licensing agreement. Shein will also manufacture Missguided’s products through its on-demand production model, and sell on both companies’ websites, Shein said in a statement.