Shein was surprised to announce that he now owns part of the Sparc group. In other words, the Chinese giant now owns the brands: “Forever 21” and “Reebok”, for example. Find out more.
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A Shein is a brand already loved by Brazilian consumers and if you loved the shop beforeForever 21 this news is great for you. After all, last Thursday, the 24th, it was announced that Shein, a Chinese giant, has bought a third of the Sparc group.
This basically means that Shein now has “ownership” of brands such as Forever 21, Naútica and Reebok. The Sparc group is present in 65 countries and has approximately 32,100 employees. This deal could be the lifeline that Forever 21 needs.
In addition to leaving Brazil, the brand filed for bankruptcy in the United States in 2019 and was acquired by Authentic Brands Group.
CAN YOU BUY ‘FOREVER 21’ CLOTHING AT SHEIN?
Shein’s plan is precisely to expand so now it will be possible to find ‘Forever 21’ products on the platform as well as white wedding dresses OR black, For example. This is one of the biggest benefits since the brand left Brazil.
On the other hand, Shein has already clarified that he will participate in Consignment Remittance, a government program that exempts purchases made over $50 on international sites. However, the way to collect tax on purchases…
Source: Terra
Ben Stock is a lifestyle journalist and author at Gossipify. He writes about topics such as health, wellness, travel, food and home decor. He provides practical advice and inspiration to improve well-being, keeps readers up to date with latest lifestyle news and trends, known for his engaging writing style, in-depth analysis and unique perspectives.
