(Yicai) Aug. 25 -- Online budget fashion retailer Shein and Sparc Group, the owner of US fast fashion giant Forever 21, have forged a partnership.

Under the tie-up, Shein has acquired about a one-third interest in Sparc, while Sparc has become a minority shareholder in its new partner, Singapore-based Shein said yesterday, without disclosing the investment amount.

The partnership offers the chance to test Shein's customer-focused experiences in Forever 21 stores in the United States, including shop-in-shops, enabling a return to store and other initiatives, it said.

The alliance will likely expand Sparc's distribution of Forever 21 products and add value and variety for Shein's extensive customer base, whose global e-commerce platform serves 150 million online users, the company added.

“Shein is thrilled to have Sparc as a partner and minority shareholder, and we look forward to finding new ways to delight our customers through the potential of this partnership,” Executive Chairman Donald Tang said.

Founded in 2017, New York-based Sparc is a joint venture of Authentic Brands Group and Simon Property Group with over 4,200 retail and shop-in-shops globally. Its fashion brands include Forever 21, Brooks Brothers, and Reebok.

“The powerful combination of Simon's leadership in physical retail, Authentic's brand development expertise, and Shein's on-demand model will help us drive scalable growth and together make fashion more accessible to all,” Tang said.

“We are excited for the partnership with Shein as it reflects our shared vision of providing customers with unparalleled access to fashion at affordable prices,” said Marc Miller, Sparc’s chief executive.

Editor: Martin Kadiev