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| Name | Shein's Big Comeback in India |Shein-Reliance Partnership|Fast Fashion Brand |Reliance Retail |News9 |
| Video Uploader | Video From NEWS9 Live |
| Upload Date | This Video Uploaded At 04-07-2024 14:53:01 |
| Video Discription | Great news for all shopaholics and Shein fans! After a four-year hiatus following its ban in India, Shein is all set to make a comeback, thanks to a strategic partnership with Reliance Retail Ventures. Expected to launch in coming weeks, Shein will not only sell its products through Reliance Retail's app but also through its offline stores across India. This move puts the China-based ultra low cost, super fast fashion brand in direct competition with Myntra and Tata Group-owned Zudio in the affordable fast-fashion space. The collaboration aims not only to reintroduce Shein to Indian consumers but also to reduce the brand's reliance on China by scaling up sourcing from India. This includes plans to use India as a key supply source for global operations and to boost exports of textiles and garments from the country. Under the agreement, Reliance Retail will retain ownership and control of the platform, while Shein will provide its technology and expertise to integrate a network of 25,000 MSMEs into a global supply chain based in India. To lead Shein's operations in India, Reliance is expected to onboard Manish Chopra, who was formerly with Meta. According to sources, the fast fashion market in India is projected to surpass $50 billion by financial year 2030-31, outpacing other retail sectors. Despite recent valuation fluctuations and regulatory scrutiny, including concerns over forced labor allegations, Shein remains a dominant force with major profits and gross merchandise value globally. Remember, Shein, founded in 2008 by Chris Xu, was banned in India in 2020 during a broader crackdown on Chinese apps amid escalating border tensions. The founder has been struggling with taking the company public in the US – owing to its alleged sub-par factory worker conditions in China, as well as the ultra cheap clothing posing a threat to US-based fashion brands. Chris Xu is now looking at a London IPO. This comeback of Shein in India not only would bring cheer to bargain hunters in India, but could potentially make the brand more acceptable for global bourses and private equity funding with its manufacturing diversification beyond China, into India. And Shein's return to India partnering with none other than Reliance Retail gives it access to one of the world’s largest markets too. .............................................................................................. News9 is India's first fully integrated English news brand across all digital platforms. It includes a publishing platform, viz. www.news9live.com, a future-ready OTT platform, News9 Plus, and a 24-Hour video streaming service on connected TVs and all social platforms. It's the English news brand that understands and fits perfectly into the digital-first lifestyles of our English news audiences. ► News9 Plus App : https://onelink.to/8pwfkc ► News9 OTT Coupons : https://bit.ly/4dwLDx4 ► Watch us on YouTube : https://www.youtube.com/c/NEWS9LIVE ► Like us on Facebook : https://www.facebook.com/news9live ► Follow us on Instagram : https://www.instagram.com/news9live ► Follow us on Twitter : https://twitter.com/NEWS9TWEETS |
| Category | News & Politics |
| Tags | Breaking News | Latest news | News today | Live news update | latest news today | breaking news today | business | shein | shein haul | shein review | shein tiktok | sheinhaul | shein india | shein india haul | reliance | reliance industries | reliance industries share | reliance industries limited |
