Fast-fashion online retail giant Shein is teaming with mall giant Simon Property Group to expand a foothold in bricks-and-mortar retail.
Singapore-based Shein has formed a strategic partnership with Sparc Group Holdings, a joint venture including Simon and Authentic Brands Group, a brand management company with a portfolio of fashion retailers including Forever 21, Aeropostale, Nine West and Brooks Brothers, Chain Store Age reported.
Financial terms of the agreement were not disclosed. Sparc Group will become a minority shareholder in Shein, which had annual revenue of $23B in 2022, the report said.
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