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
Mint
19 minutes ago
- Mint
India's goods trade deficit narrows to $21.88 billion in May from year ago
New Delhi: India's merchandise trade deficit narrowed to $21.88 billion in May, data from the ministry of commerce and industry showed on Monday. Merchandise exports fell to $38.73 billion in May from $39.59 billion in the year-ago period. Goods imports declined to $60.61 billion last month from $61.68 billion a year ago. In April, the merchandise trade deficit rose to a five-month high of $26.42 billion on the back of higher imports, even as exports increased. After Trump's tariffs and the India-Pakistan conflict, traders now face the challenge of escalating tensions in West Asia after Israel attacked Iran on 13 June. The armed conflict between Iran and Israel has escalated concerns over the safety of cargo passing through the Strait of Hormuz and the Red Sea, a critical maritime corridor for Indian exports. Over two-thirds of India's oil imports and almost half of its liquefied natural gas imports transit through the Strait of Hormuz. The Israel-Iran attacks have increased shipment costs by up to 50% and threaten to disrupt trade routes across West Asia. Exporters and trade bodies have already flagged shipping delays, rising freight charges, and limited insurance coverage, officials said. The latest conflict comes amid global trade tensions triggered after US President Donald Trump briefly imposed reciprocal tariffs on imports from key partners, including India, before pausing them to allow space for negotiations. The Trump administration has also levied a 10% universal tariff on all imports from every country. India and the US are working out a limited trade deal to ease market access and tariff barriers—a modest but crucial step as India's import bill continues to rise. In addition, the recent India-Pakistan conflict strained regional trade dynamics. Heightened tensions have halted formal exchanges, affecting border economies and informal trade channels. The instability also deters investor confidence in the region, compounding challenges for India's trade outlook amid already rising import bills and global tariff uncertainties. Services exports rose to $32.39 billion in May, from $29.61 billion in the same period of the previous year. Services imports stood at $17.14 billion, compared with $16.88 billion a year earlier. The combined value of merchandise and services exports touched $71.12 billion in May, up from $69.20 billion a year ago.
Mint
25 minutes ago
- Mint
Air India Crash: What the Montreal Convention means for grieving families and victims
Air India Crash: A Boeing 787-8 Dreamliner, operating as AI 171 and bound for London's Gatwick Airport, tragically crashed in Ahmedabad on June 12, striking a medical college and erupting into a fireball of death and devastation. The flight was carrying 242 people, including 169 Indian nationals, 53 British nationals, seven Portuguese nationals, and one Canadian national. Of those on board, 241 perished; only one British national of Indian origin survived. While Tata Sons, the parent company of Air India, announced ₹ 1 crore as compensation for families of the deceased and the lone survivor of the deadly crash, the final compensation will depend on the Montreal Convention treaty. The Montreal Convention, formally called the Convention for the Unification of Certain Rules for International Carriage by Air, is a multilateral treaty adopted on May 8, 1999, in Montreal, Canada, by the member states of the International Civil Aviation Organisation (ICAO). India joined as the 91st member in 2009. The Montreal Convention is applicable only to international flights between countries that are parties to the treaty. If an airline is found to be negligent for an accident, the Montreal Convention holds it liable for damages, including passenger deaths or injury to passengers, delay, damage or loss of baggage and cargo as well. Chapter III of the Montreal Convention is titled 'Liability of the Carrier and Extent of Compensation for Damage.' According to the convention, the compensation is determined and applied when the airline is liable for the damage. As of December 2024, it stood at approximately $211,000 in the case of death or bodily injury of a passenger. Jim Brauchle, former US Air Force Navigator and Aviation Attorney at Motley Rice, told Livemint, 'the airline is strictly liable for the $200,000 in damages suffered by each passenger' under the Montreal Convention. Jim added, 'To recover beyond that amount, Air India will have to prove that it and its employees were not negligent in any way in causing the crash. The Montreal Convention only applies to Air India as the operator of the flight and not to any of the manufacturers.' The treaty also specifies nearly $8,778 for each passenger in case of damage caused by delay in the carriage of persons. For destruction, loss, damage, or delay related to baggage, the limit per passenger is about $2,115. In the case of cargo, the liability limit has increased to around $36.21 per kilogram. The aviation attorney further stated he was not surprised by the incident of the 787 Dreamliner crashing, citing 'some issues and previous incidents". 'Usually engine failures or control surface malfunctions' are the most likely technical crashes that could lead to a crash just seconds after takeoff, he said, also pointing out flaps up and gear down as seen in the video. 'Observing the video of the airplane right before the crash, it appears that the flaps are up, and the gear is down. On take off, the gear is typically raised prior to retraction of the flaps. This is an odd configuration indicative of a potential mechanical or crew failure,' he mentioned. Meanwhile, the Directorate General of Civil Aviation (DGCA) ordered Air India to perform enhanced checks on all of its Boeing 787-8/9 fleet starting June 15, 2025, amid the probe panel set up by the Ministry of Civil Aviation on June 13 to evaluate the circumstances leading to the crash and assess existing Standard Operating Procedures (SOPs) and safety guidelines currently in place. According to the HT report, at least 22 Boeing 787 Dreamliner aircraft in the Indian fleet were inspected after the tragic incident last week. 'Checks on 22 787s have been completed, and nothing alarming was found during the surveillance. The inspection on the remaining B787 may be completed by Monday," the report quoted one of the officials as saying. On June 14 evening, Air India CEO Campbell Wilson said the company will make an interim payment of ₹ 25 lakh to each of the deceased's families and the survivor, besides ₹ 1 crore already announced by Tata Sons. 'To provide immediate financial support, Air India will be making an interim payment of ₹ 25 lakh, or approximately £21,000, to each of the families of the deceased and also to the survivor. This is in addition to the ₹ 1 crore, or approximately £85,000, already committed by Tata Sons,' Wilson said.
Time of India
28 minutes ago
- Time of India
Indian tycoon's Caravel charts new course with biggest stake in Pacific Basin
Indian tycoon Harry Banga 's Caravel Group has emerged as the biggest shareholder in Pacific Basin Shipping Ltd , signalling a major bet on growing global demand for dry bulk commodity transport . As of June 12, Caravel held 672.7 million shares in Pacific Basin, giving it a stake of just over 13%, Bloomberg reported, citing regulatory filings to the Hong Kong stock exchange . This follows Caravel's initial disclosure of a 7.5% holding in late March, after which it steadily increased its ownership in the company, which is currently valued at around $1.3 billion. Caravel Group said in an emailed statement to Bloomberg News, 'Caravel Group is a committed long-term shareholder, and the position reflects the company's confidence in Pacific Basin's future.' Harry Banga is chairman and chief executive officer of Caravel Group, which he launched in 2013 after working for more than two decades at one of Asia's largest commodity trading firms. The company's business spans ship management , commodity trading and asset management. According to its website, Caravel currently operates, manages or owns more than 650 vessels. Pacific Basin, which owns and operates dry bulk cargo ships, reported adjusted revenue of about $2.6 billion last year. It is the sixth-largest marine shipping company listed on the Hong Kong stock exchange in terms of market value, according to data compiled by Bloomberg. Live Events The Banga family also holds stakes in Indian ventures, including FSN E-Commerce Ventures Ltd ., the parent company of beauty platform Nykaa. Nykaa was listed in Mumbai in 2021 following an initial public offering that raised $715 million. The Banga family ranks among the top three shareholders in the company. Harry Banga's son, Angad Banga , is the chief operating officer of Caravel Group. He is also a general partner at Sorin Investments , an early-stage venture capital firm he co-founded with Sanjay Nayar, the former Chief Executive Officer of KKR India. (with inputs from Bloomberg)
