Shein Signs Deal With Forever 21 Owner as Fast-Fashion Majors Look To Boost Reach
August 25, 2023
Online fashion retailer Shein has announced a partnership with SPARC Group, owned by Authentic Brands and Simon Property, which owns Forever 21. This deal would give Shein a roughly one-third interest in SPARC Group, allowing Forever 21’s label to expand its presence on Shein’s online platform, reaching approximately 150 million users. The partnership also opens the possibility for Shein to tap into Forever 21’s retail locations across the United States, potentially expanding beyond its core online presence into physical stores.
Recent News
ALDI Is Cutting Prices on More Than 250 Items To Combat Inflation
After a period of expansion, ALDI has pledged to help inflation-weary consumers.
Novavax Partners With Sanofi To Commercialize COVID-19 Vaccine
Novavax and Sanofi are teaming up to commercialize the vaccine that helps prevent COVID-19.
Planet Fitness Increases Membership Prices After Nearly 3 Decades
Despite there being a growing amount of cost-conscious consumers, Planet Fitness is raising its base membership fee for new customers for the first time since 1998.
Dorsey Bows Out of Bluesky Due to Fears It’s Turning Into Twitter 2.0
Twitter co-founder Jack Dorsey has exited Bluesky as he said it was “literally repeating all the mistakes [Twitter] made as a company.”