Mike Ashley's Frasers Group is in talks to sell its Missguided clothing brand to online fashion giant Shein. Frasers Group bought Missguided for £20m last year after the online fashion retailer collapsed into administration. Shein, which was founded in China in 2008, is a global giant in the world of fast fashion. Both Frasers Group and Shein have been contacted for comment. Manchester-based Missguided was founded by Nitin Passi in 2009 and grew to become one of the UK's biggest online fashion players. But after suffering from supply chain problems, rising freight costs and increasing competition from rivals, it fell into administration in May 2022, before being picked up by Frasers Group. Frasers - which owns the Mike Ashley-founded Sports Direct chain - has expanded rapidly by buying brands that have fallen into trouble. including Game, Evans Cycles, Jack Wills and Sofa.com. While Mike Ashley is no longer Frasers' chief executive, he owns a majority stake in the firm.
