Authentic Brands Group (ABG) and Chinese fast-fashion giant Shein have solidified their partnership through an agreement that gives Shein exclusive rights to sell Forever 21 products in China. The two companies have had a relationship since last year when Shein acquired certain Forever 21 intellectual property rights. This latest deal进一步深化了他们的关系..
In addition to granting Shein exclusive rights to sell Forever 21 in China, the deal also includes a revenue-sharing agreement between the two companies. This means that ABG will financially benefit from Shein’s sales of Forever 21 products in China..
The move is part of ABG’s strategy to expand Forever 21’s global footprint. The company, which acquired Forever 21 out of bankruptcy in 2020, has been looking to grow the brand’s presence in new markets. Shein’s extensive reach in China makes it an ideal partner for ABG in this endeavor..
For Shein, the deal is a way to further diversify its product offerings and appeal to a wider range of consumers. Forever 21 is a popular fashion brand with a strong following, and Shein hopes to capitalize on that by offering Forever 21 products to its customers in China..
The partnership between ABG and Shein is a significant development in the fashion industry. It is a major vote of confidence for Forever 21, and it underscores Shein’s growing influence in the global fashion market..
Here are some additional details about the deal:.
* Shein will have exclusive rights to sell Forever 21 products in China for a period of five years..
* The agreement includes a revenue-sharing arrangement between ABG and Shein..
* ABG will continue to own the Forever 21 brand and will be responsible for its creative direction..
* Shein will be responsible for the manufacturing, distribution, and marketing of Forever 21 products in China..
* The deal is expected to close in the second quarter of 2023..
The partnership between ABG and Shein is a major development in the fashion industry. It is a significant vote of confidence for Forever 21, and underscores Shein’s growing influence in the global fashion market..
