New York CNN —Fast fashion e-tailer Shein may be coming to a mall near you.
Forever 21’s parent company Sparc Group announced on Thursday that it will partner with the online shopping giant in a deal that would see Sparc become a minority shareholder in Shein.
Sparc is a partnership between retail real estate company Simon Group and Authentic Brands Group, whose portfolio includes brands like Brooks Brothers and Nine West.
The deal will “provide Sparc Group a platform to further grow its brands,” Sparc said in a news release.
Both are fast fashion brands, meaning they mass-produce cheap items that are often used and discarded at a rapid pace as consumers strive to keep up with the latest trends.
Persons:
Shein, Brooks, Shein’s, ”, Marc Miller, ” Donald Tang
Organizations:
New, New York CNN, Sparc Group, Sparc, Simon Group, Authentic Brands, Brooks Brothers, Nine
Locations:
New York, Shein