Shein: Two major fast fashion retailers are teaming up. On Thursday, DTC brand Shein announced that it acquired a one-third interest in SPARC Group (the joint venture between Simon Property Group and Authentic Brands Group, which operate Forever 21). At the same time, SPARC Group is now a minority shareholder in Shein, which will start selling Forever 21 clothes on its platform.
Fearless Fund: The venture capital fund that has recently invested in DTC brands such as Bread Beauty Supply and Oui the People is facing a new lawsuit from Edward Blum, the conservative who helped end affirmative action policies at U.S. colleges in a recent Supreme Court case. The lawsuit accuses the Fearless Fund of racial discrimination because it specializes in funding women-of-color-led businesses.
Mosh: Maria Shriver and Patrick Schwarzenegger’s DTC protein bar brand announced that it just closed its Series A funding round, led by clients of Main Street Advisors. Mosh is now hoping to expand its retail presence.