Akshata Sharma
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SHEIN's re-entry into India through a partnership with Reliance Retail is a big deal - and it is set to shake up India's $30 Bn fast fashion industry
Launched in India in 2018, Shein set the market on fire and was already a major player by 2020.
Valued at a staggering $10 Bn, the brand accounted for nearly one-fifth of the global fast-fashion market in 2022, outpacing giants such as Zara and H&M. To put things in context, Shein was founded in 2008, whereas Zara was incorporated in 1975 and H&M in 1947.
But the ban in 2020 meant all that came to a halt.
Shein's exit left a gap in India's fashion market which D2C brands quickly filled. But none of them have quite replicated the magic of Shein and how quickly it disrupted the market.
So, here's what you need to know about Shein's re-entry into India:
* Shein is not back as a standalone entity, but its products will be available on Reliance Retail's apps and physical stores.
* Shein joins the Mukesh Ambani-led conglomerate's exclusive portfolio of over 50 brands, including Silk Feet, Jivers, Xlerate, Feet Up, among others.
* Shein's parent entity will receive a licence fee as a share of profits generated solely within India. The operations will be managed by a company wholly owned by Reliance Retail.
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