Shein back in India? Mukesh Ambani's Reliance to launch IPO-bound label, ex-Meta honcho to be roped in, says report

 Mukesh Ambani's Reliance Retail Ventures volition motorboat Chinese accelerated manner statement Shein successful the coming weeks, selling the latter's products connected its app and brick-and-mortar stores, The Economic Times reported.

The retail portion of Ambani's oil-to-telecom conglomerate Reliance Industries reportedly teamed up with the IPO-bound manner marque past twelvemonth and volition astir apt pat erstwhile Meta manager Manish Chopra to caput Shein's operations successful India, ET reported, citing executives alert of the development.

The concern is the latest successful a drawstring of deals by Reliance Retail, which has brought planetary brands specified arsenic American jewellery shaper Tiffany & Co and British online retailer ASOS to India.

The determination comes 4 years aft Shein was banned from India arsenic a portion of a wider crackdown connected immoderate Chinese applications pursuing borderline conflicts betwixt India and China.

The India operations volition beryllium tally by a institution wholly owned by Reliance Retail and Shein is expected to beryllium paid a licence interest arsenic a stock of the firm's profit, ET reported.

All the indispensable and delicate information volition beryllium hosted and stored successful India, and Shein volition person nary entree oregon rights implicit them, according to the report.

Once launched, Shein volition vie straight with Walmart -backed online buying tract Myntra and the  Tata-owned Westside successful India's $10 cardinal accelerated manner market, which is projected to turn to a $50 cardinal marketplace by FY31.

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