Mumbai: Shein, the Chinese fast fashion giant, will make a return in India via a partnership with Reliance Retail, the subsidiary business entity of Reliance Industries.
The Indian government has given the nod to the partnership, which is expected to support Shein in attaining India’s large young population, the Wall Street Journal reported.
Shein was blacklisted in the country in June 2020 as part of a government’s prohibition on several Chinese apps following a border conflict between the two countries.
The partnership between Shein and Reliance Retail is a critical stride in the Indian e-commerce space. It is anticipated to encourage both brands to boost their businesses in India.
As Reliance Retail is one of the largest retailers in India, with more than 10,000 stores across India. The joined forces will give strengthen Shein’s brand image in the country.
Also, Shein is a well-known brand among young people in India, which is why the partnership with Shein, Reliance could also benefit from its brand recognition, technology and supply chain, said the report.
As per the Wall Street Journal reported, Shein has bagged USD 2 billion in funding in its latest fundraising round which values the company at USD 66 billion.
