Shein, a Singapore-based online fashion retailer, has announced its intention to acquire Missguided, a women's fashion brand, for an undisclosed amount.

The women's fashion brand Missguided will be acquired by Shein, an online fashion and lifestyle retailer based in Singapore, for an undisclosed amount, the company announced on Monday.

Founded in 2012, Shein is a fashion brand that operates in 150 countries. Its business strategy is focused on manufacturing "sustainable" apparel while cutting waste and protecting resources.

Missguided is a British fashion brand that was a member of the Frasers Group and was founded in 2009, according to its website. It supports mainstream culture, street style, and affordable, innovative clothing.

Furthermore, Nitin Passi, the founder of Missguided, and Shein announced the creation of Sumwon Studios, a joint venture aimed at obtaining a license for the intellectual property associated with the Missguided trademark. The joint venture will be in charge of managing the brand, according to a statement from Shein. Donald Tang, the executive chairman of Shein, said in a statement that the company's new joint venture is the start of a new form of partnership for Shein and shows their unwavering commitment to satisfying customer demand.

Shein plans to revive the Missguided brand by leveraging its distinctive identity and global expansion through its on-demand production strategy, e-commerce expertise, and extensive global reach, thereby establishing an agile and responsive ecosystem.