Shoppers assemble! After Jimmy Choo, MK & others, Isha Ambani-led Reliance Retail to bring back Shein in India
The Ambanis have been in a celebratory mood this year. With the impending wedding of Mukesh Ambani¡¯s youngest son Anant Ambani, the entire clan is busy with pre-wedding bashes and other ceremonies. As far as the business is concerned, Reliance has been recording milestones parallely.?
Isha Ambani took over as the new leader of Reliance Retail in August 2022.
Mukesh Ambani who has amassed a whopping net worth of over Rs 10.1 lakh crore, has been profiting a lot from Isha Ambani-led Reliance Retail , which is a subsidiary of Reliance Industries. Reliance Retail has a market cap of Rs 21 lakh crore and is valued at 8.4 lakh crore at present.?
This has been possible only because Reliance Retail has brought several international brands to India. As per recent reports, it is all set to bring back Shein once again after it was banned by the government a few years ago.?
After GOI banned it in 2020, Shein to be reintroduced in India by Reliance
Shein managed to pull many customers in India as it offered fashionable clothes at lucrative prices. It was a hit among the millennials but its popularity lasted for a short span of time. In June 2020, Shein was banned by the government of India along with several Chinese apps due to security concerns.
After a while, the brand¡¯s app remained nonfunctional but the clothes were made available in India via Amazon. However, Delhi High Court then issued notice to ban sale of Shein clothing on the ecommerce platform.
In a fresh update, it looks like Shein will soon be operational in India under the retail arm of Ambani¡¯s Reliance Retail.?
Also Read:?Isha Ambani To Give Zara And H&M A Run For Their Money, To Bring This British Brand To India!
According to the Economic Times report, Shein plans to source for its global operations in the Middle East and other markets through this partnership. The Shein app will host and store all pertinent and sensitive data within India, with Reliance Retail retaining ownership and control of the platform.
Reliance Retail partners with global brands like Jimmy Choo, Giorgio Armani, Hugo Boss, Versace, Michael Kors, Brooks Brothers, Armani Exchange, Burberry, and others in India. Shein is expected to join this list soon.
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