Shein Returns to India: Mukesh Ambani’s Reliance to Launch IPO-Bound Label with Ex-Meta Exec, Says Report
Mukesh Ambani’s Reliance Retail Ventures is set to launch the Chinese fast fashion brand Shein in the coming weeks. According to The Economic Times, Shein’s products will be available on Reliance’s app and in their physical stores.
Last year, Reliance Industries’ retail unit teamed up with Shein, which is preparing for an IPO. They plan to hire former Meta director Manish Chopra to lead Shein’s operations in India, as reported by executives familiar with the deal.
This partnership is part of Reliance Retail’s strategy to bring more international brands to India. They’ve previously introduced brands like American jewelry maker Tiffany & Co and British online retailer ASOS.
Shein was banned in India four years ago during a crackdown on Chinese apps due to border conflicts between India and China.
Reliance Retail will fully manage the India operations, and Shein will earn a license fee based on profits. All critical data will be stored in India, and Shein won’t have access to it.
Once launched, Shein will compete with Walmart-backed Myntra and Tata-owned Westside in India’s $10 billion fast fashion market, which is expected to grow to $50 billion by FY31.
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