Retailers Shein and Forever 21 Strike Deal That Will Expand Reach of Both Brands

Fast-fashion competitors Shein and Forever 21 have joined forces.

On Thursday, the retailers announced a deal that will bring together two brands that have a strong following of young shoppers and a reputation for trendy clothing and accessories at a low price.

As part of the joint venture, Shein will acquire about a third of Forever 21′s operator, Sparc Group. Sparc will also take a minority stake in Shein.

Financial details were not disclosed.

Read the source article at CNBC