Mike Ashley's Frasers sells fashion brand Missguided to Chinese firm

The move will bring the Missguided label to Shein's online platform, which serves about 150 million users.

Shein, the China-founded fast-fashion retailer, has bought the Missguided brand from Mike Ashley's Frasers, the e-commerce giant's first purchase of a British brand.

Frasers said Shein would acquire the intellectual property and trademarks of Missguided, while Frasers would retain its real estate and employees which have now been integrated into Frasers' fashion division.