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Asos CEO José Antonio Ramos Calamonte has insisted that the troubled etailer - which reported a 238.7% increase in operating losses to £248.5m fiscal year 2023 - is on track to return to growth by 2025.
Hanesbrands is considering a sale of its Champion sportswear brand and WHP Global and Authentic Brands Group are both interested in buying it.
Financial details of the deal were not disclosed but Frasers said the transaction had enabled "exciting discussions" with Shein regarding opportunities for potential collaboration across its brand portfolio.
Shein has bought the Missguided brand from Mike Ashley's Frasers Group, the e-commerce giant's first purchase of a British brand.
US-based Authentic Brands announces strategic agreement with fast fashion giant Shein for fashion retailer Forever 21.