Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Thailand Inflation Remains Negative for 10th Straight Month in January 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
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
