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Grapevine

Ambani Enlists Shein to Compete with Tata in Affordable Fashion Market

  • Mukesh Ambani, Asia's richest man, is intensifying his efforts to dominate India's affordable fashion market by partnering with Chinese e-commerce giant Shein.
  • Tata Group's Trent Ltd. has seen a significant surge in sales and profits, driven by its fast-fashion brand Zudio, which appeals to young consumers with trendy, low-cost clothing.
  • Reliance Industries Ltd. has invested over $2 billion in its retail unit and raised an additional $6 billion from global investors, aiming for a blockbuster IPO.
  • Shein's reentry into the Indian market, facilitated by Reliance, could be a game-changer as Ambani seeks to capture the fast-fashion crown.
  • The competition between Ambani and Noel Tata is set to intensify, promising more choices for young Indian consumers in the under-$12 fashion segment.

Source: Business Standard

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