LONDON, UK: Frasers Group plc has acquired certain intellectual property of the online women’s fashion retailer, Missguided Limited (in administration), Mennace Limited (in administration) and Missguided (IP) Limited for a cash consideration of £20 million.
Following completion, the business will be operated by the administrator under a transitional agreement for a period of approximately 8 weeks. It is then the intention that Missguided will operate as a standalone business within the Group.
Michael Murray, Chief Executive of Frasers Group, commented: “We are delighted to secure a long-term future for Missguided, which will benefit from the strength and scale of FG’s platform and our operational excellence. Missguided’s digital-first approach to the latest trends in women’s fashion will bring additional expertise to the wider Frasers Group.”