Daily Newsletter

08 July 2024

Daily Newsletter

08 July 2024

Reliance Retail allegedly in final stage of Shein’s India relaunch

Indian retail company Reliance Retail is said to be in the final stages of relaunching ultra fast fashion giant Shein into the Indian marketplace a year after the partnership was announced and four years after Shein's app was banned from the country.

Laura Husband July 08 2024

Reliance Retail Ventures is preparing to launch Shein in the coming weeks, according to local news reports.

Reliance Retail is expected to sell Shein's products on its app as well as its offline owned and operated stores.

Neither Shein nor Reliance Retail had responded to Just Style's request for comment, however local reports also claim former Meta director Manish Chopra could lead Shein's India operations.

It is thought that Shein hopes to reduce its dependence on China and leverage India's supply chain with its platform and data hosted and controlled by Reliance Retail.

Reliance Retail operates 15,196 stores across 7,000-plus cities, according to its website.

The Indian Government banned Shein and some other Chinese apps in June 2020, stating at the time that the platforms posed a "threat to sovereignty and integrity."

The new partnership will reinstate Shein in one of the world's most populated countries, thereby increasing its global outreach.

Shein became the subject of a legal campaign launched by human rights group Stop Uyghur Genocide last month.

Stop Uyghur Genocide engaged the services of human rights firm Leigh Day which had written to the UK Financial Conduct Authority (FCA) urging it to stop Shein’s attempt to list on the London Stock Exchange (LSE).

Leigh Day argued Shein’s practices were in breach of the UK’s agreement to adhere to the ILO convention that sets out minimum standards for engaging workers.

Amnesty International described a potential Shein float as “a badge of shame” for the London Stock Exchange.

Dominique Muller, an Amnesty International researcher specialising in the garment industry commented at the time: “Where Shein goes, others will try to follow. The UK authorities and the London Stock Exchange should not facilitate Shein’s listing until transparent and binding safeguards regarding internationally accepted human rights standards covering its entire supply chain are agreed and applied, and any abuses identified fully remedied."

A Shein spokesperson told Just Style at the time: "Shein has a zero-tolerance policy for forced labour and we are committed to respecting human rights. We take visibility across our entire supply chain seriously and we require our contract manufacturers to only source cotton from approved regions."

Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

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