Sources say the Chinese online fast fashion brand is re-entering the country in partnership with Reliance Retail
Chinese online fast fashion brand Shein is reportedly re-entering India almost three years after being banned in the country.
A PTI report quoting sources said that the brand is re-entering here in partnership with the country’s leading retailer Reliance Retail.
Shein was banned by the Ministry of Electronics and Information Technology in June 2020 after tensions with China escalated over the Himalayan borders. Now, it has partnered with Reliance Retail and will operate through the retail arm of Mukesh Ambani’s Reliance Industries to tap one of the fastest growing high fashion markets globally. An e-mail sent to Reliance Retail regarding the development did not elicit any response, the PTI report said.
Sheen, which is facing scrutiny in some markets as US over-sourcing, will make use of the opportunities available here. The source said it would be sourcing for Sheen’s global operations for the Middle East and other markets.
Reliance Retail, which has a huge portfolio of fashion brands in its kitty, will also benefit, reports PTI.
In a recent interview with AFP, Peter Pernot-de, the Singapore-based firm’s head of strategy, said sheen’s low prices are due to demand-driven production and not forced or cheap labour. The brand, founded in China in 2008, is an “on-demand manufacturer … the global pioneer of this technology,” he said.
Shein’s sales are set to rise 60% to $16 billion worldwide in 2021, Bloomberg reported, just behind Swedish high-street name H&M. With 11,000 employees worldwide, Sheen has big plans for further expansion, reports AFP.
“It is important to have teams that are in the countries and geographies and regions where we are doing business,” Pernot-de said.