Fast-fashion giant Shein makes a comeback in India after a five-year hiatus, partnering with Reliance Retail while planning to relocate parts of its supply chain.
The landscape of online retail in India is set for a notable shift with the re-entry of fast-fashion giant Shein, which has partnered with Reliance Retail, the country’s leading retail entity. This comeback follows a five-year hiatus for Shein, originally banned in India in 2020 due to data security concerns. The collaboration permits Shein to receive licensing fees for its brand and technology, while a subsidiary of Reliance Retail will fully operate the Shein India platform. A source close to the deal provided this insight to Tech in Asia.
Shein’s reemergence is not merely a return to selling clothing. The company is reportedly eyeing the relocation of a portion of its supply chain to India. Currently, Shein outsources its manufacturing to approximately 5,400 firms, predominantly located in China, amidst an ongoing trade conflict between China and the United States. This strategic move could potentially offer Shein more control over its supply chain and reduce its dependence on Chinese manufacturing.
However, penetrating the Indian market will not be without its challenges. The retail landscape is dominated by established competitors, including Flipkart’s Myntra and Tata Group’s Zudio. While Shein’s pricing strategies are under scrutiny, analysts note that its prices often surpass those of Zudio, who benefit from a well-entrenched supply chain in the country—an advantage that Shein will need time to build.
In other developments, Adrian Gunadi, the former CEO of the Indonesian fintech firm Investree, has been spotted at the E1 Series Doha GP 2025 race. Gunadi, who is currently a fugitive wanted for alleged financial misconduct in Indonesia, was captured in a now-deleted social media post by Amir Ali Salemizadeh, CEO of JTA International. JTA was anticipated to lead a significant investment round of US$231 million into Investree, but it remains unclear if the capital was ever disbursed. Following the allegations against him, Indonesian authorities have sought a red notice via Interpol and have initiated the process to revoke Gunadi’s passport.
Within the broader tech industry, various developments have been reported. Investors in the aquatech unicorn eFishery, based in Indonesia, are expected to recover less than 10% of their investments following a report from FTI Consulting Singapore that indicated the company is likely to undergo partial winding down.
In a separate initiative, Salesforce is set to invest at least US$2.5 billion over the next seven years to leverage Google Cloud services, a partnership intended to enhance Salesforce’s delivery on Google’s cloud platform.
In personnel changes, Singapore-based digital payment firm 2C2P has appointed Worachat Luxkanalode as its new CEO, scheduled to take office in April.
Additionally, Indian apparel-sourcing startup Geniemode has successfully closed a Series C funding round, raising over US$50 million. Geniemode facilitates connections between small and medium-sized manufacturers and buyers, engaging suppliers across India, Bangladesh, Pakistan, and Sri Lanka.
These events collectively highlight the dynamic changes within Asia’s tech and retail sectors, as companies navigate challenges and seek new opportunities in a rapidly evolving marketplace.
Source: Noah Wire Services
