E-commerce
Singapore online retailer partners with Forever 21 parent company
August 28, 2023
Shein, a Singapore-based online fashion and beauty marketplace, is partnering with Sparc Group Holdings II LLC to expand distribution via Sparc's Forever 21 stores.
In the agreement Shein acquired one-third interest in Sparc Group and Sparc becomes a minority shareholder in Shein, according to a press release.
Shein's global e-commerce platform serves 150 million online users.
"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," Marc Miller, CEO of Sparc Group said in the release. "By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world."
Shein could potentially run in-store stores within Forever 21 locations and in return Forever 21 merchandise may one day sell on Shein's site, according to a New York Times report.
