Chinese online fast fashion brand Shein is reportedly entering India again, almost three years after getting banned in the country.
Citing sources, a PTI report says the brand is re-entering here in partnership with the country's leading retailer Reliance Retail.
Shein was banned in June 2020 by the Ministry of Electronics and Information Technology, after tension with China escalated on 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 fash fashion markets globally. An e-mail sent to Reliance Retail over the development remained unanswered by the time of filing of the story, states the PTI report.
Shein, which is facing scrutiny in some markets as US over sourcing would utilise the opportunities available here. It will be sourcing for Shein's global operation for the middle east and other markets, the source added.
Reliance Retail, which has a vast portfolio of fashion brands in its kitty, would also get benefitted, states the PTI report.
In a recent interview with AFP, the Singapore-based firm's strategy chief Peter Pernot-Day said that Shein's low prices are due to demand-based 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 rose 60% in 2021 to $16 billion worldwide, Bloomberg reported, just behind Swedish high-street name H&M. With 11,000 employees worldwide and counting, Shein has big plans for further expansion, according to the AFP report.
"It's important to have teams that are in the countries and geographies and regions where we are doing business," Pernot-Day said.