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A deal struck by Shein and Forever 21 could see the digital retailer and legacy fast-fashion brand converge online and in person.
Shein, the biggest online retailer for womenswear, has acquired a third of Forever 21 operator SPARC Group, which also owns brands like Reebok, Brooks Brothers, and Eddie Bauer. As part of the deal, SPARC Group will have a minority stake in Shein. The news was first reported by The Wall Street Journal.
In a press release, Shein wrote that the company brings “e-commerce expertise and global reach to provide SPARC Group a platform to further grow its brands.” The company also hinted that Shein mini-shops and customer services like returns could come to Forever 21 physical retailers.
Long before Shein’s rapid…