Your favourite fast fashion store, Shein, is expanding! The company just bought another one of its competitors.

Online retailer, Shein just announced that it’s acquiring British fast fashion brand, Missguided. Missguided is pretty much the UK version of Shein.  The brand went viral a few years ago for selling bikinis for one pound.  They became a major player in British fast fashion, very quickly.

According to reports, the deal will see Shein manufacturing Missguided’s products and selling them on both companies’ websites as an independent brand. 

And even though Shein is technically taking over Missguided, some parts of the deal sound more like a merger than an acquisition. Like the fact that Missguided’s former parent company, Frasers Group, will keep the company’s real estate and employees. Also, Shein is licensing  Missguided’s intellectual property to a company that was formed by Shein and Missguided’s founder.

So there’s definitely a lot of partnership and working together going on.

Now this is actually the second time Missguided has been acquired in as many years. Despite its rapid rise, the company filed for bankruptcy last year and was saved by the Frasers Group.

Also, the specifics of the deal haven’t been released yet. Both companies are very similar, but Missguided has struggled, while the Shein team has the experience and resources, so it seems like a no-brainer.

Missguided offers similar clothing as Shein, but its products tend to be a little more expensive than Shein’s, which isn’t a bad thing because that could attract a different customer base. 

Now, this acquisition comes as Shein has made it clear that they want to expand their current business model and offer a broader range of products. 

This Missguided deal is right on the heels of another announcement by Shein that it plans to launch a co-branded clothing line with former rival, Forever 21. 

Shein started selling its clothes in Forever 21 stores earlier this year, after it took a stake in Forever 21’s parent company Sparc Group. 

Shein is definitely on a mission for world domination… and that’s the bottom line.