GUWAHATI: Chinese online fashion brand Shein is set to make a comeback in India through its strategic partnership with Reliance Retail.
According to sources, Shein has partnered with Reliance Retail and will operate through RIL’s subsidiary to tap one of the fastest-growing fashion globally.
Sources claim that Shein may source its fabrics for its global as well as local manufacturing operations from India, as a part of a partnership with Reliance Retail. The partnership will include sourcing, manufacturing and retailing
Shein was operating in India but after the post-Galwan ban on Chinese apps, the fashion brand got shut down in the country in June 2020. However, in 2021, Shein sold its products for a short period of time in Amazon.
The fashion brand was founded by China in 2008 which later gained a top position in the global fast-fashion marketplace, offering customers trendy yet affordable fashion wear. According to reports, in 2021, the sale of Shein rose 60% to $16 billion worldwide. They gained position after the Swedish high-street name H&M.
Founded in China in 2008, Shein has swiftly claimed a top place in the global fast-fashion marketplace, offering customers low-priced collections that turn over at a steady clip.
Meanwhile, According to sources, Shein has faced a major backlash in US demanding the Securities and Exchange Commission to halt the initial public offering of the brand until it gets verified it cannot use forced labour.
Moreover, Reliance Retail reported a 12.9% increase in its net profit to Rs.2,415 crore. Besides, Reliance Retail also opened 966 new stores in the March quarter, taking the total count to 18,040 and reporting 41.29%.