SHEIN
Fashion retailer SHEIN will partner with SPARC Group Holding II LLC (SPARC Group), helping the retailer better meet the needs of their customers in the U.S. and globally.
Within the agreement, SHEIN will have approximately one-third interest in SPARC Group, which includes Authentic Brands Group and Simon Property Group. At the same time, SPARC will become a minority shareholder in SHEIN. SPARC Group will leverage SHEIN’s e-commerce expertise and global reach to further the growth of its brands, including Forever 21.
“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,” said Donald Tang, executive chairman for SHEIN.
The partnership will boost SPARC Group’s distribution of Forever 21, bringing greater product variety and value to SHEIN’s existing customer base. SHEIN will also be able to use Forever 21 locations across the U.S. to test customer-focused experiences, including shop-in-shops, giving customers access to make returns in-store.
"By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world,” said Marc Miller, CEO of SPARC Group.