SPARC Group and SHEIN Forge Strategic Partnership to Transform Fashion Retail

SPARC Group has unveiled a strategic collaboration with SHEIN, a renowned global online marketplace specializing in fashion, beauty, and lifestyle products. In this landmark agreement, SHEIN acquires an approximate one-third stake in SPARC Group, a joint venture comprising Authentic Brands Group and Simon Property Group. Consequently, SPARC Group assumes the role of a minority shareholder in SHEIN.

SHEIN, with its e-commerce proficiency and extensive global presence, is set to provide SPARC Group with a dynamic platform for the continued expansion of its brand portfolio. This strategic alliance is poised to revolutionize SPARC Group's distribution of Forever 21, bringing added value and diversity to SHEIN's vast customer base, which currently serves 150 million online users.

Furthermore, this partnership introduces an opportunity to trial SHEIN's customer-centric innovations within Forever 21 locations across the United States, encompassing shop-in-shops and facilitating in-store returns, among other initiatives. SHEIN, renowned for pioneering on-demand customer engagement in the online sphere, aligns seamlessly with SPARC Group's wealth of expertise in retail and branding.

Together, SHEIN and SPARC Group are primed to leverage their complementary platforms and know-how to accelerate product innovation, explore novel business strategies, elevate customer experiences, and fortify their market presence.

Marc Miller, CEO of SPARC Group stated, "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. By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world."

Donald Tang, Executive Chairman of SHEIN 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. 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."

Directors of SPARC Group, Jamie Salter, and David Simon expressed, "We are very pleased to welcome SHEIN as a strategic partner and shareholder in SPARC Group. SHEIN is the world’s leading online fashion platform, delivering style and value around the globe. We are looking forward to working together."