Nykaa, Zudio face big challenge as Mukesh Ambani makes big move to…

Reliance Retail has reintroduced the Chinese fast-fashion brand Shein to the Indian market, creating significant competition for brands like Zudio, Nykaa, and Trent. Asia’s richest businessman, Mukesh Ambani, has entered into the fast-fashion industry by relaunching Shein in India. The Shein app went live on February 1, with prices starting as low as Rs 199. This strategic move has already begun impacting the market, after Trent’s shares dropped by over 6% on February 4.

Shein was previously banned in India due to tensions between India and China. Earlier, It used to receive 20,000 to 50,000 orders daily. Its return, backed by an ultra-fast fashion model, has caused a stir in the market. Shein promises delivery within 5-7 days, significantly faster than the 1-2 weeks typically required by other fast-fashion brands.

While Zudio, Nykaa, and Trent generate most of their revenue through offline stores, Shein focuses exclusively on online sales, which may present its own set of challenges. Shein has initially launched its operations in New Delhi, Bengaluru, and Mumbai, with its app already having over 10,000 downloads from the Play Store.