‘Shein deal will not need FDI approval’2 min read 20 May 2023, 12:14 AM IST
At present, 93% of Shein’s sourcing is from China but the partnership with RRVL as per company’s projection could result in 25% sourcing to shift to India.
New Delhi: Chinese online fast-fashion retailer Shein won’t require foreign direct investment (FDI) approval for its partnership with Reliance Retail Ventures Ltd, considering that it will not hold equity in the new operations, government officials said on Friday. The entity will be controlled by a wholly-owned subsidiary of Reliance Retail, they added.
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