Mukesh Ambani, Isha Ambani joins hand with Chinese Company, plans to expand business of…, after…
Chinese brand Shein, in collaboration with Reliance Retail, is planning to expand its Indian supplier network and start international sales of Shein-branded and made in India within six to 12 months, according to a Reuters report.
Shein has been in talks with Mukesh Ambani's Reliance Retail prior to the U.S. imposing tariffs on Chinese imports. The goal is to increase the number of Indian suppliers from the current 150 to 1,000 within a year, the report revealed citing sources.
In a statement to Reuters, Shein said its partnership with Reliance was limited to the licensing of its brand to Reliance Retail for Indian domestic consumption only. Reliance did not respond to queries.
Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which could previously be imported duty free.
The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour.
It returned in February under a licensing deal with the Reliance Industries unit which launched Shein India.in selling Shein -branded clothes produced in local factories. In contrast, Shein 's other websites mainly list goods from China.
Reliance, controlled by Asia's richest person, Mukesh Ambani, has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns.
The goal is 1,000 Indian factories making Shein -branded clothes within a year for both the Indian market and to service some of Shein 's global websites, the people said.
Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said.
The scale of supplier expansion and export time frame is being reported for the first time.
In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein -Reliance partnership aimed to create a network of Indian suppliers of Shein -branded clothes for sale 'domestically and globally'. (With Inputs From Reuters)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
32 minutes ago
- India.com
Meet actor who once sold products door to door, one film changed his life, became a star, was called ‘next Shah Rukh Khan', built Rs 1200 core business, he is…
He may have entered Bollywood with Ram Gopal Varma's Company (2002), but Vivek Oberoi's biggest role has unfolded far beyond the silver screen. While many remember him for films like Saathiya and Masti, few know that this actor-turned-entrepreneur built a business empire worth Rs 1200 crore, largely without help, not even from his superstar father, Suresh Oberoi. Despite being born into a film family, Vivek's journey was anything but privileged. In a recent podcast interview, the actor peeled back the layers of his public persona to reveal a sharply honed business mind, one that took root when he was just 10. At an age when most kids were lost in video games, Vivek was busy selling door-to-door and pitching marketing strategies to his father. 'Dad would bring home a product and ask me to make a business plan. Then he'd quiz me — 'How will you sell this?' That's how I learned,' Vivek shared. But there was no silver spoon. In his own words, 'He told me, 'I'm rich. You're not. You'll become rich — but on your own.' The words stuck. By the age of 19, Vivek had already earned $3 million for his first company. He sold it four years later at 23. Today, he claims to have taken nine companies public in the Indian stock market and is preparing to launch four more. On the professional front, Vivek hasn't delivered many hits lately. His last prominent appearance was in PM Narendra Modi (2019), where he played the lead role. In 2024, he appeared in the historical action film Kesari Veer alongside Suniel Shetty and Sooraj Pancholi, though the project didn't make major waves. For now, his film calendar appears empty. But even without a blockbuster, Vivek Oberoi is far from irrelevant. His sharp pivot from screen to stocks has redefined his legacy, one built not on box office numbers but on boardroom deals.
Time of India
an hour ago
- Time of India
Rare earth supply crunch: Over 21,000 jobs in India's audio electronics sector at risk due to China curbs, says Elcina report
More than 21,000 jobs in India's audio electronics sector are at risk due to China's curbs on the export of rare earth metals, industry body Elcina has said in a report shared with the government. In April, China implemented stricter licensing rules on the export of key rare earth elements like terbium and dysprosium, which are essential for making Neodymium-Iron-Boron (NdFeB) magnets — widely used in consumer electronics such as hearables, wearables, and speakers. The Electronics Industries Association of India (Elcina) said the move has disrupted supply chains globally and is severely affecting India's fast-growing wearables and hearables market, forcing many manufacturers to switch to importing fully assembled speaker modules from China, PTI reported. 'This creates a regressive trend — from component manufacturing back to finished good imports dependency. Over 5,000–6,000 direct jobs and 15,000 indirect jobs are at risk in speaker and audio component manufacturing, especially in Noida and South India,' Elcina noted. India dependent on China for NdFeB magnets Rare earth magnets make up 5–7% of the bill of materials, and India imports nearly 100% of its NdFeB magnet requirement, with China accounting for 90% of those imports. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Seniors Born 1939-1969 Receive 9 Benefits This Month Bettys Perks Learn More Undo Prices for Chinese magnets have surged amid tightened supply and administrative delays, while alternatives from Japan, the EU and the US are 2–3 times costlier and lack adequate capacity. Electronics manufacturer Videotex, which produces televisions for brands such as Havells (Lloyd), Reliance (BPL, Reconnect), Toshiba, and Vijay Sales, said the situation poses challenges, but the immediate impact on TV production is expected to be limited. 'Rare earth-based magnets are critical in TV manufacturing, particularly for speakers due to their compact size and high performance. However, we are working closely with our suppliers to ensure sufficient stock for the upcoming season,' said Arjun Bajaj, Director of Videotex. He added that Videotex is also exploring alternative magnet options like ferrite, which come with acceptable performance trade-offs, and stressed that this disruption highlights the need for long-term strategies to localise and diversify sourcing. Elcina urges government action Elcina has urged the government to begin government-to-government (G2G) talks with China, seek industry-specific exemptions, and boost domestic R&D and manufacturing under the electronics component manufacturing scheme. It also recommended that the government consider a production-linked incentive (PLI) scheme for critical minerals, to reduce India's reliance on China and ensure the resilience of its electronics supply chain. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India.com
an hour ago
- India.com
Debts getting erased rapidly, deals closing rapidly...,can Anil Ambani overtake his elder brother Mukesh Ambani?
Anil Ambani was once the sixth richest person in the world, even boasting a wealth of $42 billion by the end of the 2000s. After the division of the Reliance group, he was in control of companies such as Reliance Telecom, Reliance Capital, Reliance New Energy, and Reliance Power – all companies with significant potential. But as a result of bad choices, poor planning, over-dependence on debt, and poor execution, all of his companies started to struggle. Debt obligations mounted, shares fell, and many were lost in the sale of companies to pay down obligations. Today, things seem to be changing. Companies are finding more capital to invest in their future, profits are growing, loan amounts are shrinking, and new projects are coming in. If the trend continues, it would not be surprising to see Anil Ambani regain one of the many positions he has lost over the last decade in the business world. Anil Ambani and Mukesh Ambani are two well-known names in the world of business. Today, Mukesh Ambani is the richest industrialist in India. Moreover, he is one of the richest individuals in Asia. He holds a significant name in the global business community. However, Anil Ambani is also making a comeback. Things are getting better for him, and his companies—Reliance Power, Reliance Industries, and Reliance Home Finance—are regularly reporting profits. Anil Ambani's companies have been providing exceptional returns for investors. Stocks like Reliance Power, Reliance Home Finance Ltd, and Reliance Infrastructure have produced very favorable results. In just one month, Reliance Power shares have increased by more than 40%. In fact, for one full year, the stock has delivered a spectacular return of around 125%, which is more than double the original investment. This means that a Rs 1 lakh investment in Reliance Power one year ago would be worth approximately Rs 2.25 lakh today. Likewise, Reliance Infrastructure Ltd has also given out sizable returns in the previous year. The stock was up 30% in the last month and has given almost a 90% return in a year. As for Reliance Home Finance Ltd, the stock has generated nearly a 55% return in just one month and around 50% in one year. And when you examine Mukesh Ambani's Reliance Industries, it is important to note, although it remains India's most valuable company based on market value, its performance hasn't been too good recently. In the past month, it has remained mostly flat, and over the last year, it has declined by about 6%. In terms of returns, it appears that Anil Ambani's companies have performed better than his older brother's Reliance Industries in the recent past. Good things are happening for Anil Ambani right now. His companies, Reliance Infra and Reliance Power, are becoming transformational forces. Recently, Reliance Infra's subsidiary, Reliance Defence, has secured multiple deals one after another. If it wasn't enough that confidence is growing in Anil Ambani's businesses from domestic investors in India, a great deal of global confidence in his businesses has developed. He recently signed a significant deal with Diehl Defence in Germany. Prior to the deal with Diehl, another German company inked an agreement with his firm to manufacture ammunition. Moreover, Anil Ambani's company signed a major international project agreement in Bhutan, where he signed an agreement to build a 1,270 MW solar power plant—this is a concrete step forward in his comeback. Anil Ambani is now clearly committed to reducing the level of debt for his companies, as he has been continuously working towards getting his companies debt-free, one after the other. Reliance Infrastructure, one of the flagship companies of the Ambanis, cleared Rs 3,300 crore in debt in FY2025 and has become entirely debt-free. Media reports suggest that Reliance Power's Rosa Power Supply Company also paid down its Rs 485 crore in debt, which likewise has been cleared to be entirely debt-free. Previously, Reliance Power itself managed to pay down a substantial loan of Rs 3,872 crore. It is interesting that with these debts being reduced, the companies also seem to be attracting new orders and attracting new investments, signaling that Anil Ambani's businesses are on the verge of a full revival.
