Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Samsung SDI Secures Major LFP Battery Supply Deal in the U.S. 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Coca-Cola’s Costa Coffee Sale Faces Uncertainty as Talks With TDR Capital Hit Snag 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
Moore Threads Stock Slides After Risk Warning Despite 600% Surge Since IPO 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation 
JD.com Pledges 22 Billion Yuan Housing Support for Couriers as China’s Instant Retail Competition Heats Up 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Westpac Director Peter Nash Avoids Major Investor Backlash Amid ASX Scrutiny 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Shein announced it has signed a deal with Forever 21 to combine their brands and sell their products to a wider audience. The Singapore-based fast fashion retailer said they are aiming to strengthen their respective businesses by expanding their reach and securing wider market share.
Forever 21, a Los Angeles, California-headquartered fashion brand, agreed to team up with Shein after years of being rivals in the fashion industry. On Thursday, Aug. 24, the two companies confirmed their partnership and said they will bring their brands together to make their following stronger.
Forever 21 and Shein already have an army of young customers, and both are known to offer trendy clothing pieces. Now that they are set to combine their brands, the partners are now banking on their loyal shoppers to further boost their sales.
As per CNBC, Shein and Forever 21 agreed that the former will buy a third of Sparc Group LLC, the parent company of Authentic Brands Group, which operates Forever 21. Likewise, Sparc will also acquire a minority stake in the Singapore-based fashion company.
The firms did not reveal the financial details of their joint venture deal. It was noted that the partnership comes amid the criticisms being thrown against Shein. The backlash stemmed from an allegation that it had violated the import tariff law in the United States where it was rumored to be preparing for initial public offering.
In any case, Shein and Forever 21 offer similar apparel lines that young shoppers like. Thus, there are high expectations for their joint venture.
"We are excited for the partnership with SHEIN as it reflects our shared vision of providing customers with unparalleled access to fashion at affordable prices," Sparc Group’s chief executive officer, Marc Miller, said in a press release. "By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world."
Shein’s executive chairman, Donald Tang, further said, "SHEIN is thrilled to have SPARC Group as a partner and minority shareholder and we look forward to finding new ways to delight our customers through the potential of this partnership.”
He added, "The powerful combination of Simon's leadership in physical retail, Authentic's brand development expertise, and SHEIN's on-demand model will help us drive scalable growth and together make fashion more accessible to all."
Photo by: Authentic Brands Newsroom
