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'Shein' acquires British fast fashion brand 'Missguided' as it looks to expand global reach
Missguided gained prominence after going viral for selling £1 bikinis and became a significant force in British fast fashion. But it later unable to pay its suppliers from dire financial straits. Subsequently, Shein has bought Missguided from the Frasers Group as the company looks to expand its market share and reach internationally. Shein will produce Missguided's goods and market them independently on the websites of both businesses following the acquisition, with Frasers keeping Missguided's personnel and real estate.
Importance
The expanding in Shein's market lets us reconsidering the impact of Fast Fashion. Fast Fashion clothing is surely captivate due to its cheap price and fashionable looks. Most of the customers were lured to buy affordable, low quality, and mass produced clothes. But the fast fashion market disadvantages are a huge impact in global warming, an unfair wages compared to working hours for the market's labors. So think carefully before buying new clothes, does it worth it?, do you really like the clothes or you buy it because it's just cheap?, will you be wearing the clothes often? Considering these will help reduce the amount of trash and impact in global warming from Fast Fashion market.
Reference
https ://www . cnbc.com/2023/10/30/shein-acquires-missguided-from-britains-frasers-group . html