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Frasers Group PLC is in negotiations to sell its online clothing brand Missguided, to Chinese firm Shein, Sky News reported on Saturday. Frasers also owns House of Fraser, Sports Direct and Flannels retail chains. Sky News said the potential deal, which the firms have been discussing for ‘several weeks’ would be Shein’s first British fashion brand acquisition. https://news.sky.com/story/high-street-tycoon-ashley-to-sell-missguided-to-chinese-giant-shein-12962346 The deal would likely see the head office retained by Fraser’s, but would include Missguided’s brand and intellectual property. Sky said the now Singapore-based Shein is valued at roughly $66 billion, at one point having been worth more than $100 billion - more than competitors H&M and Inditex combined. Frasers shares closed at 804.50 pence each on Friday in London. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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