A Shein App is shown in the iOS App Store in Bargteheide, Germany, May 3, 2021. Fast-fashion competitors Shein and Forever 21 have joined forces. Shein's deal with Forever 21 comes as it tries to distance itself from sharp criticism and gear up for a widely rumored U.S. initial public offering. While Shein and Forever 21 have similar shoppers, they have catered to those customers in different ways. By teaming up, Shein and Forever 21 will have new ways to reach customers.

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Persons: Shein, Brooks, Lucky Brand, — CNBC's Gabrielle Fonrouge Organizations: Sparc Group, Sparc, Authentic Brands, Simon Property Group, Wall Street Locations: Bargteheide, Germany, Shein, China, Singapore, Dallas, Los Angeles