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Exclusive-Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
By Dhwani Pandya and Helen Reid MUMBAI/LONDON (Reuters) -Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start overseas sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter. The China-founded, Singapore-headquartered e-commerce firm has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said. In a statement to Reuters, Shein said it licensed its brand for use in India. 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 were previously 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 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 reported here for the first time. Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market," Shein said in a statement. 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". ON-DEMAND MANUFACTURING Shein is a fast-fashion behemoth earning annual revenue of over $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil. Its expansion in India mirrors interest in the country from the likes of Walmart and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the Sino-U.S. trade war. The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth, showed data from market intelligence firm Sensor Tower. Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on its U.S. site. In the women's dresses category, its cheapest item is priced 349 Indian rupees ($4) versus $3.39 on the U.S. site as of June 9. Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said. Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said. Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible". The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer. The firm also runs e-commerce site Ajio and its retail network competes with Amazon and Walmart's Flipkart as well as value retailers such as Tata's Zudio. Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said. Sign in to access your portfolio
Yahoo
22-05-2025
- Business
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Brookfield eyes tripling India assets to $100 billion in five years
By Dhwani Pandya MUMBAI (Reuters) -Brookfield Asset Management will triple its India investments to $100 billion within five years, as it bets on the country's strong growth prospects and rising demand in the infrastructure and clean energy sectors, a senior executive said on Thursday. Brookfield has been doubling down on India investments and has in recent years invested $12 billion in infrastructure assets like gas pipelines, telecom tower assets and data centres; as well as $12 billion in real estate including offices and hotels, and $3 billion in clean energy projects. The New York-based company, with over $1 trillion of assets under management worldwide, views India as a key beneficiary as companies around the world diversify their supply chains, Brookfield Asset Management's President Connor Teskey said. "Global corporates are looking to make their supply chains more resilient, they are moving away from a single supplier model to multiple supplier points, India seems to be the beneficiary of all of those trends," Teskey told reporters in Mumbai. Brookfield will continue to look for opportunities in transport infrastructure, utilities and power generation, especially in renewables, as well as real estate across office, retail, logistics, hospitality and student housing, he added. This week, Brookfield-owned Schloss Bangalore, an Indian luxury hotel chain operator, announced plans to raise $409 million in a public issue. Despite new tariffs creating global uncertainties this year, Brookfield has not paused capital deployment, Teskey said, noting the firm's long-term investment horizon. "The key themes and dynamics that we are investing in today completely overwhelm any short-term uncertainty or headline noise."
Yahoo
19-05-2025
- Business
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Indian boycott of Turkish coffee, chocolates and fashion grows
By Dhwani Pandya MUMBAI (Reuters) -Small Indian grocery shops and major online fashion retailers are boycotting Turkish products ranging from chocolates, coffee, jams and cosmetics to clothing amid growing anger at Turkey's support for Pakistan in a confrontation with India. Turkish President Tayyip Erdogan expressed public solidarity with Pakistan, another majority-Muslim country, after India conducted military strikes in response to an attack in Indian Kashmir by Islamist assailants. Cross-border fighting continued for four days before a ceasefire was declared. On Monday, the All India Consumer Products Distributors Federation (AICPDF), which supplies 13 million mom-and-pop grocery stores, said it was launching an "indefinite and total boycott" of all Turkish-origin goods, which would affect chocolates, wafers, jams, biscuits and skincare products. Indian fashion websites owned by Walmart-backed Flipkart and billionaire Mukesh Ambani's Reliance have removed numerous Turkish apparel brands, according to three sources and a review of their websites. Flipkart's fashion website Myntra removed listings of Turkish brands including Trendyol, known for women's clothing, street and casual wear brand LC Waikiki and jeans producer Mavi, said one source with direct knowledge. Myntra removed the brands "in the national interest" without Walmart's involvement, a second source with direct knowledge said. Reliance's fashion website AJIO also removed Turkish brands including Trendyol, Koton, LC Waikiki from its app, and many of those listings were shown as out of stock on Monday. A source cited "national sentiments" as a reason. Flipkart, Reliance Retail and the Turkish brands Trendyol, LC Waikiki, Koton and Mavi did not respond to requests for comment. India has not ordered companies to boycott Turkey, and India's annual $2.7 billion in goods imports from Turkey are dominated by mineral fuels and precious metals. But a consumer boycott could still be significant. AICPDF said its ban would affect around 20 billion rupees ($234 million) of food products. Apparel imports were worth $81 million last year, according to the Trading Economics reference website. Sukhvinder Singh Sukhu, chief minister of Himachal Pradesh, one of India's biggest apple-growing states, said on Monday he would ask for a ban on apple imports from Turkey, which were worth around $60 million last year. Moreover, last week Flipkart said it was suspending flight, hotel and holiday package bookings to Turkey "in solidarity with India's national interest and sovereignty". Indians have been cancelling holidays to Turkey and New Delhi has cancelled the security clearance of the Turkish-based aviation ground handling firm Celebi. Reuters reported on Friday that Air India was lobbying Indian officials to disallow rival IndiGo's leasing tie-up with Turkish Airlines, citing business impact as well as security concerns sparked by Ankara's support for Pakistan.
Yahoo
19-05-2025
- Business
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Indian boycott of Turkish coffee, chocolates and fashion grows
By Dhwani Pandya MUMBAI (Reuters) -Small Indian grocery shops and major online fashion retailers are boycotting Turkish products ranging from chocolates, coffee, jams and cosmetics to clothing amid growing anger at Turkey's support for Pakistan in a confrontation with India. Turkish President Tayyip Erdogan expressed public solidarity with Pakistan, another majority-Muslim country, after India conducted military strikes in response to an attack in Indian Kashmir by Islamist assailants. Cross-border fighting continued for four days before a ceasefire was declared. On Monday, the All India Consumer Products Distributors Federation (AICPDF), which supplies 13 million mom-and-pop grocery stores, said it was launching an "indefinite and total boycott" of all Turkish-origin goods, which would affect chocolates, wafers, jams, biscuits and skincare products. Indian fashion websites owned by Walmart-backed Flipkart and billionaire Mukesh Ambani's Reliance have removed numerous Turkish apparel brands, according to three sources and a review of their websites. Flipkart's fashion website Myntra removed listings of Turkish brands including Trendyol, known for women's clothing, street and casual wear brand LC Waikiki and jeans producer Mavi, said one source with direct knowledge. Myntra removed the brands "in the national interest" without Walmart's involvement, a second source with direct knowledge said. Reliance's fashion website AJIO also removed Turkish brands including Trendyol, Koton, LC Waikiki from its app, and many of those listings were shown as out of stock on Monday. A source cited "national sentiments" as a reason. Flipkart, Reliance Retail and the Turkish brands Trendyol, LC Waikiki, Koton and Mavi did not respond to requests for comment. India has not ordered companies to boycott Turkey, and India's annual $2.7 billion in goods imports from Turkey are dominated by mineral fuels and precious metals. But a consumer boycott could still be significant. AICPDF said its ban would affect around 20 billion rupees ($234 million) of food products. Apparel imports were worth $81 million last year, according to the Trading Economics reference website. Sukhvinder Singh Sukhu, chief minister of Himachal Pradesh, one of India's biggest apple-growing states, said on Monday he would ask for a ban on apple imports from Turkey, which were worth around $60 million last year. Moreover, last week Flipkart said it was suspending flight, hotel and holiday package bookings to Turkey "in solidarity with India's national interest and sovereignty". Indians have been cancelling holidays to Turkey and New Delhi has cancelled the security clearance of the Turkish-based aviation ground handling firm Celebi. Reuters reported on Friday that Air India was lobbying Indian officials to disallow rival IndiGo's leasing tie-up with Turkish Airlines, citing business impact as well as security concerns sparked by Ankara's support for Pakistan. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
21-03-2025
- Business
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Adani defending key India projects against environmental challenges
By Dhwani Pandya and Arpan Chaturvedi MUMBAI/NEW DELHI (Reuters) - Indian billionaire Gautam Adani's group is battling allegations in court this month that its planned multibillion-dollar power plant and a luxury housing complex breach environment laws, adding to its many legal headaches. Such allegations have often troubled Adani projects in India and abroad. In Australia, the group battled a seven-year activist campaign against its Carmichael coal mine, and construction at its seaport in south India was halted for months in 2022 due to protests over coast erosion. Now, Adani Group is defending itself against allegations made in India's National Green Tribunal that it started work on a $2 billion power plant without waiting for environmental clearance. This case is set for a hearing on Friday. The lawsuit by an activist says the site for the plant is within a forest in the Mirzapur district of Uttar Pradesh. The suit seeks to halt the project saying it would devastate the area and impact wildlife, court papers show. Adani denied in a March 6 filing that any of its activities at the site are environmentally damaging. "The project land is not a forest land," Adani also said in the filing. State pollution control official Reetesh Kumar Tewari told Reuters that Adani stopped work at the site after it was sent a November warning notice about the construction. Adani Group did not respond to an e-mail seeking comment. Debadityo Sinha, the activist who filed the lawsuit, declined comment citing ongoing legal proceedings. Legal cases in India can drag on for years, and environment-related challenges often emerge as a sticking point for big companies. The latest legal tussles come just as India's government has asked a local court to deliver a summons from the U.S Securities and Exchange Commission to group founder Gautam Adani over his alleged role in a $265 million bribery scheme. Adani has denied those allegations and said they are baseless. LUXURY PLANS AND SLUM REDEVELOPMENT Adani is pursuing two big projects in Mumbai, one of world's most expensive real estate markets, and both are being challenged over environmental issues. Its luxury residential project in the coastal suburb of Bandra is being challenged by another activist, Zoru Bhathena, and a residents group who are trying to halt the project. They are arguing in a case at the high court in Mumbai that the land Adani plans to use for the project has been reclaimed from the sea and remains a legally protected coastal region where no construction is allowed. India's environment ministry and the Adani Group disagree, telling the court in February the land is no longer classified as a protected area following a rule change in 2019, non-public court filings reviewed by Reuters show. The court has described the Bandra case as involving a "vital issue relating to environment protection". The next hearing on the matter is set for March 27. Adani's other high-profile project in Mumbai is the redevelopment of Dharavi slum, one of the group's most ambitious undertakings. It started work there after winning a $619 million redevelopment bid two years ago. Dharavi, about three-quarters the size of New York's Central Park and where 1 million people need to be rehoused, was featured in the 2008 Oscar-winning movie "Slumdog Millionaire". Its open sewers and shared toilets, close to Mumbai's international airport, stand in contrast to India's development boom across residential, commercial and infrastructure sectors. The Adani-led Dharavi redevelopment company, now called Navbharat Mega Developers, was allotted 256 acres (104 hectares) of salt-pan lands in September to build rental housing for Dharavi residents as part of the project. But activist lawyer Sagar Devre has filed a public interest litigation in the Mumbai high court against Prime Minister Narendra Modi's government, alleging it changed rules in August 2024 to allow residential development on salt-pan lands - ecologically sensitive areas that help in flood protection. The court has not yet heard the case, but the rule change has been a topic of political wrangling, with India's Congress Party saying it is an example of Modi changing policy to help Adani - allegations of impropriety both have repeatedly denied. Spokespersons for Modi's federal government did not respond to a request for comment on the salt-pan land issue.
