Shein and the owner of Forever 21 struck a strategic partnership that could have an impact on the fast fashion world.

<div class="block">Shein and the owner of Forever 21 struck a strategic partnership that could have an impact on the fast fashion world.</div>

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Shein Strikes Deal With Forever 21

So a new deal in the fash fashion world may revolutionize the way you stop Sheehan and Spark Group who owns Forever 21 announce a strategic partnership for more of what this means in the retail world. We're bringing in Cheddars news, senior reporter Michelle Castillo Michelle, tell us more about this. She and Forever 21 deal. She and Forever 21 are combining forces to get more clothing to the masses. So Spark Group owns Forever 21 as you mentioned as well as a Post Brooks brothers, Eddie Bauer, lucky brand, Naa and Reebok. It's a joint venture between authentic brands and Simon Property Group and now it has a minority stake in Chinese e-commerce retail giant. She in return, she will acquire about one third of Spark Group. In a statement she and executive chairman Donald Tang said the powerful confirmation combination of Simon's leadership and physical retail, authentic brands development expertise and she's on demand model will help us drive scalable growth and together make fashion more accessible to all. So this deal will help expand distribution forever. 21 for Forever 21 products especially online and on the flip side, you can expect more sheen pop ups in physical. Forever. 21 stores across the US. They will also have the ability to return she products in Forever. 21 stores in the near future and other aspects as well. That's pretty big because she is so incredibly popular, but you got to sort of mail it back when you don't want a product. So fast fashion is growing. How big of a player is she in this world right now? It's huge, Georgia. So have you been on tiktok or Instagram? You've probably seen people trying on their halls or large shipments of sheen clothing. I've seen some of these Tik Toks where they actually have moving vans bringing in boxes of clothing. That's how much stuff people order from this company and actually about 100 50 million people shop at she according to the company each month and in a presentation obtained by the Financial Times, the company expects its revenue to grow exponentially. So she and expects to earn nearly six billion dollars in revenue in 2025 which is more than double 2020 two's numbers. And this year it's projecting to make about $32 billion. The company also overtook Amazon last year as the most downloaded shopping app. So those numbers are not too far fetched that they can reach that billion dollar mark in an investment round in April 2022 the company was valued at $100 billion that exceeds Zara and H and M valuation. There have been a lot of concerns right now where fast fashion effect on the environment. And Sheehan is an ultra fast fashion player. Can you talk us through this controversy? Well, fash fashion speeds up the process of designing manufacturing and producing. So stores like she can have more popular items available and in more colors. But as a result, not only does the clothing production cause pollution, the excess clothing that doesn't get sold, it often ends up discarded. So according to the epa, about 85% of all textiles or 11.3 million tons end up in landfills annually. That's about £81.5 of cloth per American per year. She and CEO has said it produces about 50 to 100 pieces of each item a day and if that item becomes popular, then that item is mass produced. But because it offers so many options, it's use of virgin polyester and oil uses the same amount of co two as 100 coal power, coal powered power plants daily. And that's per this report from the synthetic Anonymous 2.0 so it's using a lot of resources. We're not buying all those products. And even though they make limited runs of each item first, there's just so many options that they're still producing quite a bit. Thanks so much Michelle. Very insightful.