A portion of the Forever 21’s parent company has been acquired.

Sparc Group Holdings II LLC has entered into a strategic partnership with Singapore-based Shein, an online marketplace for fashion, beauty and lifestyle products. Shein now owns one-third of Sparc, which is based in New York.

Sparc, a joint venture of Authentic Brands Group and shopping mall owner Simon Property Group, in return becomes a minority shareholder in Shein, according to a release from the companies.

Authentic Brands Group, a brand-management firm based in New York, acquired Forever 21 in February 2020 in a deal with Simon Property Group and Brookfield Property Partners. In May 2021, Brookfield sold its stake in Forever 21 for $63 million. Simon is based in Indianapolis, and Brookfield is based in Bermuda.

Authentic’s portfolio of brands includes Frederick’s of Hollywood, Reebok, Eddie Bauer, Izod, Juicy Couture and Lucky Brand.

The partnership is expected to expand Sparc Group’s distribution of downtown-based clothing retailer Forever 21. Shein’s global e-commerce platform serves 150 million online users.

Marc Miller, chief executive of Sparc Group, said the company was excited about the partnership with Shine, as it reflects its shared vision of giving customers access to fashion at affordable prices.

“By working together, we will provide even more innovative and trendsetting products to fashion enthusiasts around the world,” Miller said in a statement.

Shein Executive Chairman Donald Tang said that his company was thrilled to have Sparc as a partner and shareholder, adding that both companies looked forward to finding new ways to engage with customers.

“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.