Shein headquarters is now set for a return to India in a partnership with Reliance Retail
- Posted on July 4, 2024
- News
- By Arijit Dutta
- 146 Views
Shein, the Chinese fast fashion brand, is set to re-enter India through a partnership with Reliance Retail. The collaboration comes four years after Shein's ban in India and will see its products sold via Reliance's app and stores, potentially reshaping the Indian fashion market.
In one of the biggest successes for India’s fast fashion segment, Chinese fashion giant Shein is set to return to the country with Mukesh Ambani’s Reliance Retail Ventures as its local partner. The Economic Times has disclosed that the launching is set to take place within the next couple of weeks, with Shein products to be available on Reliance application and outlets.
This comes as a way of Shein’s comeback in the Indian market since the company was completely shutdown in 2020 due to the general ban on Chinese apps as a result of the tension between India and China. The tie-up is the consumer brands business’s the latest tie-up, which has earlier sourced brands like Tiffany & Co, Asos to the country.
Sources aware of the development suggest that Reliance Retail is planning to appoint ex- Meta director Manish Chopra for managing the Shein business in the country. According to sources, Reliance Retail will operate the Indian business through a Reliance-owned company while Shein has agreed to pay a license fee which is to be determined in terms of profit sharing.
In an endeavor to counter potential data security risks, the report shows that all the data will be kept and hosted in India and Shein will not have any access to the data or its rights.
Shein return is expected to disrupt the Indian fast fashion market, which now stands at $10 billion and expected to grow to $50 billion in fy 2030-31. The brand will be directly comparable to other domestic sports wear like Walmart’s Myntra and Tata’s Westside.
This follows as Shein gears for an IPO despite the information concerning the process not being made public.
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With change in the fashion industry across the years, the collaboration between Reliance and Shein can greatly influence consumer trends in the following years.