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AUTHENTIC BRANDS GROUP AND SHEIN ANNOUNCE STRATEGIC AGREEMENT FOR FOREVER 21
The partnership comes on the heels of the August 2023 announcement that SHEIN acquired an approximately one-third interest in SPARC Group (SPARC), a joint venture that includes Authentic and Simon Property Group and the core operating partner of Forever 21 in the U.S. In tandem, SPARC became a minority shareholder in SHEIN.
"SHEIN's innovative approach to engaging with consumers gives them the ability to deliver trends at speed. With an evolving retail landscape, where digital interaction has become the cornerstone of e-commerce, SHEIN has led the way in redefining how brands connect with consumers," said Jamie Salter , Founder, Chairman and CEO of Authentic. "We are excited to partner with SHEIN, as this collaboration perfectly fits into our distribution strategy for the brand's new key markets."
"We're thrilled to bring the renowned Forever 21 brand to SHEIN customers using our manufacturing capabilities and online store," said Donald Tang , Executive Chairman at SHEIN. "Forever 21 and SHEIN share a mission to deliver products that our customers love at an incredible value. This exciting new aspect of our partnership with Authentic furthers our goal of making fashion accessible to all and we look forward to bringing this to life for our customers."
Forever 21 is globally renowned as one of the original trendsetting fashion retail brands. SHEIN is a leading, digital-first e-retailer that recently launched SHEIN Marketplace in regions including the U.S. By combining their respective strengths and resources, these two brands are poised to usher in a new era of digital access. Earlier this month, SHEIN hosted its first pop-up within a Forever 21 at Ontario Mills shopping center, with over 7,000 guests passing through.
Authentic Brands Group (Authentic) is a global brand development, marketing and entertainment platform, which owns a portfolio of more than 50 iconic and world-renowned Lifestyle, Entertainment and Media brands. Headquartered in New York City , with offices around the world, Authentic connects strong brands with best-in-class partners and a global network of operators, distributors and retailers to build long-term value in the marketplace. Its brands generate more than $29 billion in global annual retail sales and have an expansive retail footprint in 150 countries, including 13,100-plus freestanding stores and shop-in-shops and 370,000 points of sale.
Authentic is committed to transforming brands by delivering powerful storytelling, compelling content, innovative business models and immersive experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms and emerging media. Authentic's brand portfolio includes Marilyn Monroe®, Elvis Presley®, Muhammad Ali®, Shaquille O'Neal®, David Beckham®, Dr. J®, Greg Norman®, Neil Lane®, Thalia®, Sports Illustrated®, Reebok®, Brooks Brothers®, Barneys New York®, Judith Leiber®, Ted Baker®, Hunter®, Vince®, Hervé Léger®, Hickey Freeman®, Frye®, Nautica®, Juicy Couture®, Vince Camuto®, Lucky Brand®, Aéropostale®, Forever 21®, Nine West®, Rockport®, Eddie Bauer®, Boardriders®, Quiksilver®, Billabong®, Roxy®, DC Shoes®, RVCA®, Element®, VonZipper®, Honolua®, Spyder®, Volcom®, Shark®, Tretorn®, Prince®, Airwalk®, Izod®, Jones New York®, Van Heusen®, Hart Schaffner Marx®, Arrow® and Thomasville®.
For more information, visit corporate.authentic.com.
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SHEIN is a global online fashion and lifestyle retailer, offering SHEIN branded apparel and products from a global network of vendors, all at affordable prices. Headquartered in Singapore , SHEIN remains committed to making the beauty of fashion accessible to all, promoting its industry-leading, on-demand production methodology, for a smarter, future-ready industry. To learn more about SHEIN, visit www.sheingroup.com.
Forever 21 is a fashion industry leader making the latest trends accessible to all while inspiring unique style and confidence. With a renewed focus on the customer experience, the brand offers high style designs and fashion basics with compelling values and a dynamic store environment. While driving innovation across e-commerce and digital to expand access and convenience, the brand continues to strengthen its positioning as today's preferred destination for the fashionable consumer. Forever 21 is located in more than 572 locations globally and online. For more information visit Forever21.com. For more info or to find a store location, please visit www.forever21.com. Follow @forever21 on Instagram, Facebook and Twitter .
Media Contacts:
Angela Tucciarone , SHEIN, angela.tucciarone@sheingroup.com
Giana Elenterio , Authentic Brands Group, gelenterio@authentic.com
View original content:https://www.prnewswire.co.uk/news-releases/authentic-brands-group-and-shein-announce-strategic-agreement-for-forever-21-301969664.html