Mukesh Ambani is the richest man in India right now with a massive net worth of more than Rs 1014650 crore. He is involved in a wide range of business through Reliance Industries which is the most valuable company in India with a market cap of Rs 2120000 crore. Reliance Retail is one of the best performing subsidiaries of Reliance Industries and it is spearheaded by Mukesh Ambani’s daughter Isha Ambani. Currently valued at more than Rs 840000 crore, Reliance Retail has brought several popular international brands to India and is reports are to be believed, it will soon launch Shein back in India.
To recall, Shein was able to gather a huge fan following among the millennials in a very short span however, it was banned in India in June 2020 along with several other Chinese applications due to security concerns. It is worth noting that although the brand's official platform was banned, its clothes were available in India via Amazon until Delhi High Court issued notice to ban sale of Shein clothing on the ecommerce platform.
Reports suggest that Shein will now be operating from the retail arm of Reliance Retail. Shein is expected to be sourcing for its global operation in the middle east and other markets through this partnership.
The report by Economic Times further reveals that the Shein app will host and store all relevant and sensitive information in India and ownership, control of the platform will remain with Reliance Retail.
Jimmy Choo, Georgio Armani, Hugo Boss, Versace, Michael Kors, Brooks Brothers, Armani Exchange, Burberry and many other global brands are available in India as a Reliance Retail partner brand and Shein will most likely join the list soon. Isha Ambani was named new leader of Reliance Retail in August 2022.
