Reliance Partners with Shein for IPO Launch in India

 Mukesh Ambani's Reliance Retail Ventures is planning to introduce the Chinese fast fashion brand Shein to its app and physical stores in the upcoming weeks.

According to executives familiar with the matter, Ambani's conglomerate Reliance Industries' retail division partnered with the upcoming fashion brand last year. They are expected to appoint former Meta director Manish Chopra to lead Shein's operations in India, as reported by the newspaper.

The collaboration is the most recent among a series of agreements made by Reliance Retail, which has introduced global brands like Tiffany & Co and ASOS to India.

Shein and Reliance, both considering a London listing, did not promptly reply to Reuters' request for comment.

This action follows four years after Shein was prohibited from entering India as part of a larger crackdown on certain Chinese apps due to border disputes between the two neighboring Asian countries.

Reliance Retail will fully own a company that will manage operations in India, and Shein is projected to receive a license fee based on the Indian firm's profits.

As per the report, Shein will not have access or authority over all important and confidential information, as it will be stored and maintained in India.

After its launch, Shein will directly challenge Myntra, supported by Walmart, and Westside, owned by Tata's Trent, in India's $10 billion fast fashion industry.

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