Current:Home > ContactForever 21 stores could offer Shein clothing after fast-fashion retailers strike a deal -RiskWatch
Forever 21 stores could offer Shein clothing after fast-fashion retailers strike a deal
Rekubit View
Date:2025-04-09 01:49:50
Shein, the e-commerce behemoth known for its $5 tees and $47 wedding dresses, may be coming to a mall near you.
Shein and Sparc Group Holdings, Forever 21's operator, on Thursday announced a partnership between the fast-fashion rivals to expand the brands' reach.
The collaboration is expected to make Forever 21 merchandise available on Shein’s website and app, which serves about 150 million online users. In turn, Shein will have the opportunity to test selling products and managing returns in shops located inside physical Forever 21 stores. The brand has more than 400 stores across the country.
"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, said in a statement. "By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world."
What the deal means
Under the agreement, Shein will acquire one-third interest in Sparc, a joint venture that includes brand management company Authentic Brands Group and shopping mall owner Simon Property Group, while Sparc will become a minority shareholder in Shein.
The e-commerce company was valued at $66 billion earlier this year. The announcement did not disclose financial details of the deal.
“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,” Shein Executive Chairman Donald Tang said in the release.
Shein controversy
The agreement, first reported by The Wall Street Journal, comes as Shein faces pushback for its manufacturing practices. The company has been criticized for its environmental impact and copyright infringement, and some are concerned that the company relies on forced labor.
A group of bipartisan lawmakers earlier this year sent a letter asking the Securities and Exchange Commission to hold off a potential initial public offering until Shein could verify that it does not use forced labor from China’s Uyghur population, which is predominantly Muslim.
Shein has said that it has zero tolerance for items made with forced labor. The company has also worked to distance itself from China, and in 2021 moved its headquarters to Singapore.
veryGood! (9)
Related
- Meet first time Grammy nominee Charley Crockett
- How a secret Delaware garden suddenly reemerged during the pandemic
- Purple is the new red: How alert maps show when we are royally ... hued
- His baby gene editing shocked ethicists. Now he's in the lab again
- Nevada attorney general revives 2020 fake electors case
- How a 93-year-old visited every national park and healed a family rift in the process
- Most-Shopped Celeb-Recommended Items This Month: Olivia Culpo, Ashley Graham, Kathy Hilton, and More
- Keeping Up With the Love Lives of The Kardashian-Jenner Family
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Blue Ivy Runs the World While Joining Mom Beyoncé on Stage During Renaissance Tour
Ranking
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Paul Walker's Brother Cody Names His Baby Boy After Late Actor
- Why Jana Kramer's Relationship With Coach Allan Russell Is Different From Her Past Ones
- Nevada’s Sunshine Just Got More Expensive and Solar Customers Are Mad
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- Opioid settlement payouts are now public — and we know how much local governments got
- Q&A: A Law Professor Studies How Business is Making Climate Progress Where Government is Failing
- Debt limit deal claws back unspent COVID relief money
Recommendation
Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
Trump Takes Aim at Obama-Era Rules on Methane Leaks and Gas Flaring
Staying safe in smoky air is particularly important for some people. Here's how
His baby gene editing shocked ethicists. Now he's in the lab again
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Coastal biomedical labs are bleeding more horseshoe crabs with little accountability
Mark Zuckerberg agrees to fight Elon Musk in cage match: Send me location
Taylor Swift and Ice Spice's Karma Remix Is Here and It's Sweet Like Honey