Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Shein and Forever 21 Owner Join Forces

Shein and Forever 21 Owner Join Forces

  • Categories Retail News, Top News
  • Date August 24, 2023
  • Comments 0 comment

Sparc Group Holdings II LLC (New York), owner of fast-fashion retailer Forever 21, is entering a strategic partnership with online marketplace Shein (Singapore). The partners say the deal is focused on meeting the needs of customers seeking affordable, high-quality fashion.

As part of the joint venture, Shein will acquire about a third of Forever 21 operator Sparc. Sparc, in turn, will take a minority stake 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 Sparc CEO Marc Miller. “By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world.”

Shein Executive Chairman Donald Tang said: “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. The powerful combination of Simon’s leadership in physical retail, Authentic’s brand development expertise, and SHEIN’s on-demand model will help us drive scalable growth and together make fashion more accessible to all.”

Both companies have been the source of controversy due to the environmental impact of their fast-fashion production and allegations of unethical labor practices. Earlier this month, for example, a Shein pop-up at a Cincinnati mall was the target of protesters chanting “low prices, lower morals.”

Source: VMSD

  • Share:
admin

Previous post

Central Co-op – creating a sustainable society
August 24, 2023

You may also like

the-co-op
Central Co-op – creating a sustainable society
17 August, 2023
korea-ecommerce
South Korea e-commerce sales to surpass USD 160 million by 2027
10 August, 2023
coach
Coach Play concept store in Singapore plays host to Coachtopia immersive, circular economy takeover
9 August, 2023

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Shein and Forever 21 Owner Join Forces
24Aug2023
Central Co-op – creating a sustainable society
17Aug2023
South Korea e-commerce sales to surpass USD 160 million by 2027
10Aug2023
Coach Play concept store in Singapore plays host to Coachtopia immersive, circular economy takeover
09Aug2023
Struggling Wilko suspends home delivery orders
09Aug2023

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy