USA – SPARC Group, the parent company of Forever 21, has just announced its strategic partnership with SHEIN, the global integrated online marketplace for fashion, beauty and lifestyle products. The partnership will focus on meeting the needs of customers in the U.S. and around the world.
The partnership is expected to expand SPARC Group’s distribution of Forever 21, adding value and variety for SHEIN’s extensive customer base.
Under the agreement, SHEIN acquires an approximately one-third interest in SPARC Group, a joint venture that includes Authentic Brands Group and Simon Property Group, and in turn, SPARC Group becomes a minority shareholder in SHEIN.
The partnership also offers the opportunity to test SHEIN customer-focused experiences in Forever 21 locations across the U.S. including shop-in-shops, enabling return to store and other initiatives.
Together, SHEIN and SPARC Group plan to utilise their complementary platforms and expertise to accelerate product innovation, explore new business strategies, enhance customer experiences, and grow their presence in the marketplace.
Talking about the partnership, Marc Miller, CEO of SPARC Group, said, “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. By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world.”
Jamie Salter and David Simon, directors of SPARC Group, also added, “We are very pleased to welcome SHEIN as a strategic partner and shareholder in SPARC Group. SHEIN is the world’s leading online fashion platform delivering style and value around the globe and we are looking forward to working together.”
Meanwhile, Donald Tang, executive chairman of SHEIN, commented, “SHEIN is thrilled to have SPARC Group as a partner and minority shareholder and we look forward to finding new ways to delight our customers through the potential of this partnership.”
“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,” he added.
