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British retail and intellectual property group Frasers has announced that it has acquired certain intellectual property of the online women’s fashion retailer, Missguided Limited, Mennace Limited and Missguided (IP) Limited, all of which entered into administration on May 30, 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, Frasers Group said in a statement.
UK’s Frasers Group has announced that it has acquired certain intellectual property of the online women’s fashion retailer, Missguided Limited, Mennace Limited and Missguided (IP) Limited, all of which entered into administration on May 30, for a cash consideration of £20 million. Missguided will operate as a standalone business in 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 Frasers Group’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.”
Fibre2Fashion News Desk (KD)
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