Is Shein returning to India? Mukesh Ambani's Reliance is set to introduce an IPO-bound brand

Reliance Retail Ventures, owned by Mukesh Ambani's Reliance Industries, is set to introduce the Chinese fast fashion brand Shein to the Indian market in the coming weeks. This partnership follows Reliance Retail's collaboration with Shein last year and is expected to be led by former Meta director Manish Chopra.

Reliance Retail Ventures has been actively pursuing deals with international brands, having previously brought American jewellery maker Tiffany & Co and British online retailer ASOS to India.

The move to bring Shein to India comes four years after the brand was banned in the country as part of a broader crackdown on Chinese applications following border conflicts between India and China. The India operations will be exclusively owned by Reliance Retail, and Shein will receive a license fee based on the firm's profits. All sensitive data will be hosted and stored in India, with Shein having no access or rights over them.

Once launched, Shein will enter India's $10 billion fast fashion market, directly competing with online shopping site Myntra, backed by Walmart, and Tata-owned Westside. The fast fashion market in India is projected to grow to a $50 billion market by FY31.