Fashion group behind Missguided credit Shein services with tripling sales

Sumwon Studios, which carries the licences for Missguided, Playboy and owns Balr, Sumwon and Kizn, sold more than 25 million units in 2025, generating $300m (£220m) in net revenue. This is up from $100m (£73.3m) in 2024.

It attributed the performance to the group’s ability to scale rapidly while maintaining a disciplined and on-demand, consumer-led operating model.

Sumwon Studios was set up in 2023 by the businessman behind Missguided, Nitin Passi, in partnership with Shein.

The group combines Passi’s creativity and brand-building expertise with a tailored suite of direct-to-consumer services from Shein, including product fulfilment, on-demand production services and its global sales platform. It employs over 150 people globally.

Passi said: “Sumwon Studios was built with a long-term vision to create a next-generation fashion group designed for how brands are built and scaled today. 

“That means moving with speed, staying close to the customer, and executing with discipline. The years ahead are about continuing to expand our brand portfolio and building a platform that can scale globally and sustainably.”

Missguided was sold to Shein for an undisclosed fee in October 2023. Under the terms of the deal, Shein purchased Missguided’s intellectual property and trademarks, while Frasers kept the retailer’s real estate and employees who were integrated into the retailer’s broader fashion division. 

Frasers itself snapped the brand out of administration in summer 2022 from former owners Alteri. One of its first moves as the new owner was to reappoint founder Passin as chief executive, in a bid to turnaround the fortunes of the one-time fast-fashion darling.