August 25, 2023
SPARC Group has announced a strategic partnership with SHEIN, a global integrated online marketplace for fashion, beauty and lifestyle products. Under the agreement, SHEIN acquires an approximate one-third interest in SPARC Group, a joint venture that includes Authentic Brands Group and Simon Property Group. SPARC Group becomes a minority shareholder in SHEIN. SHEIN brings its e-commerce expertise and global reach to provide SPARC Group with a platform to grow its brands further. The partnership is expected to expand SPARC Group’s distribution of Forever 21, adding value and variety to SHEIN’s extensive customer base. SHEIN’s e-commerce platform currently serves 150 million online users. The partnership also offers the opportunity to test SHEIN’s customer-focused experiences in Forever 21 locations across the U.S., including shop-in-shops, enabling return to store and other initiatives.
SHEIN has pioneered a new, on-demand way of engaging and meeting customers’ needs online. SPARC Group brings extensive retail and brand expertise. Together, SHEIN and SPARC Group plan to utilize their complementary platforms and expertise to accelerate product innovation, explore new business strategies, enhance customer experiences and grow their presence in the marketplace.
“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,” says Marc Miller, chief executive officer, SPARC Group. “By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world.”
“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,” says Donald Tang, executive chairman, SHEIN. “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.”
“We are very pleased to welcome SHEIN as a strategic partner and shareholder in SPARC Group,” say Jamie Salter and David Simon, directors, SPARC Group. “SHEIN is the world’s leading online fashion platform, delivering style and value around the globe. We are looking forward to working together.”
Authentic Brands Group ranked No. 3 on this year’s Top Global Licensors report. Download the full report here.
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