China’s Shein may make India comeback with Reliance Retail

Reliance Industries Ltd’s retail arm Reliance Retail Ventures may launch Chinese fast fashion label Shein later this month, The Economic Times reported on Thursday.

The rollout is likely to come a year after both companies signed a strategic deal, and four years after New Delhi banned Shein from selling its wares on its app following a crackdown on Chinese apps after the border skirmish between Indian and Chinese troops in 2020.

The Mukesh Ambani-owned retailer is likely to begin selling Shein goods on its app as well as offline stores, the report said.

The Indian fast fashion market is expected to reach $50 billion by FY 31, a Redseer Strategy Consultancy report said.

The retailer may bring in former Meta director Manish Chopra to head the label’s operations in India, the ET report said, citing people directly aware of the developments, adding that the Chinese apparel brand may use the Indian market as a supply source to scale up textile and garment exports.

The Chinese fashion label operates in over 150 countries, according to its website.

The Financial Times reported that Shein is awaiting regulatory approval from the home country to proceed with the listing in London or New York.

The retailer reported more than $2 billion in profits last year and nearly $45 billion in gross merchandise value.