Reliance Relaunches Shein App: Chinese fast-fashion brand app Shein has once again been launched in the Indian market after 5 years. According to BBC, Shein was able to get this permission after an agreement with Indian company Reliance Retail. Some time ago, Shein started testing and cataloging his collection on Reliance Retail’s online platform Ajio.
According to the report, the company has entered into a long-term licensing deal to sell products manufactured and sourced in India on Reliance’s platform. However, no official announcement has been made yet regarding this.
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Reliance Relaunches Shein App
last year, month of December, Commerce and Industry Minister Piyush Goyal told the Lok Sabha that Shein’s operation would be on an indigenous retail platform in the country. Shein will not have access to the platform’s data. In 2020, India banned dozens of Chinese apps including Shein and TikTok because of the increasing tension on the India-China border.
Currently serving Delhi, Mumbai, & Bengaluru.
This app was launched in India on Saturday and so far it has been downloaded by more than 10,000 people. It is providing fashion wear for Rs 199. According to the information given on the app, this app is currently providing service only in Delhi, Mumbai, and Bengaluru. However, it will soon provide service across the country.
E-commerce company Shein has a presence in more than 170 countries. There are 5.3 crore users. Its growth is increasing surprisingly in America. Shein’s share of US fast-fashion sales is expected to reach 50% by November 2022, up from 12% in January 2020.
After shifting its headquarters from China to Singapore, Shein made a profit of Rs 17 thousand crore in 2023. It sold a total of products worth Rs 3.83 lakh crore.
Reliance Relaunches Shein App: Importance of Reliance-Shein Agreement?
Chinese brand Shein will get access to 19 thousand stores of e-commerce platform Ajio and Reliance Retail. Reliance Industries is the world’s largest polyester fiber producer. Its annual capacity is 25 lakh tonnes. Shein products contain high amounts of polyester. This will support its manufacturing.
Reliance aims to double its retail business in 4 years. An affordable range of clothes will help it to increase its customer base. In the financial year 2024, Reliance’s income from retail business increased by 18% to Rs 3.06 lakh crore.
How can Shein Change the Market?
Sheen is popular among women (12 to 27 years). The company introduces 1.5 lakh new items every year. On average 10 thousand every month. Its dresses are 50% cheaper than other fast fashion brands. At present, Tata Trent’s Judio is the fastest-growing in this segment in the country. One-third of Trent’s total income comes from Judeo. There are 559 stores in 48 cities across the country.
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