📷 Image Credits: Mint
Mukesh Ambani’s Reliance Retail Ventures is set to launch the popular Chinese fast fashion label Shein in India in the upcoming weeks. The Economic Times reported that the retail division of Ambani’s conglomerate, Reliance Industries, has collaborated with the IPO-bound fashion brand and is likely to appoint former Meta director Manish Chopra to oversee Shein’s operations in the country. This strategic partnership follows a series of deals by Reliance Retail, bringing well-known international brands like Tiffany & Co and ASOS to the Indian market.
The arrival of Shein in India comes four years after the brand was banned from the country as part of the government’s crackdown on certain Chinese applications amidst border tensions between India and China. The India operations for Shein will be managed by a Reliance Retail-owned entity, with Shein expected to receive a license fee based on the Indian firm’s profits, as reported by ET. Moreover, all data will be stored in India, ensuring the brand has no access or control over sensitive information.
Once Shein is launched, it will directly compete with major players in India’s fast fashion market, including Myntra backed by Walmart and Tata-owned Westside. The Indian fast fashion sector is estimated to be worth $10 billion and is projected to reach $50 billion by fiscal year 2031. This strategic move by Reliance Retail Ventures signals a significant entry into the competitive retail landscape, further expanding its presence in the fashion industry.