Frasers, the U.K.-based parent of Sports Direct, reported it plans to sell the intellectual property and trademarks of the Missguided online women’s fashion retailer to Shein.

Frasers will retain Missguided’s real estate and employees “which have now been integrated into Frasers’ fashion division. This transaction has enabled exciting discussions with Shein around opportunities for potential collaboration across our brand portfolio.”

Frasers acquired Missguided from administration in June 2022 for £20 million ($25 million). Terms of the sale to Shein were not made available.

Michael Murray, CEO of Frasers Group, stated, “With I Saw it First and Missy Empire, we now have a foothold in women’s digital-first fashion. Retaining the combined Frasers fashion teams whilst rationalising our portfolio in this space to focus on fewer brands makes a lot of sense in the current climate. We are also excited about the ongoing discussions around further collaboration between Frasers Group and Shein.”

Fraser’s portfolio includes Sports Direct, House Of Fraser, Flannels, 18montrose, Amara Living, Evans Cycles, Everlast, Everlast Gyms, Frasers, Game & Belong, Gieves & Hawkes, Jack Wills, Slazenger, Sofa.Com, Studio, USA Pro, and USC.

Photo courtesy Misguided