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Shein Valuation Drops By A Third In $2 Billion Funding Round

The online fashion retailer Shein has raised $2 billion in a new funding round, but its valuation has decreased by a third from a year ago.



Photo: Shein

Shein, the online fashion giant that has become a go-to destination for affordable clothes, has just completed a new funding round in which it raised $2 billion. It is estimated that the company is worth $66 billion after this round of funding, which is approximately a third less than its valuation one year ago.

The recent sell-off in tech stocks and growing concerns about the company’s labour and environmental practices are likely to blame for the decline in Shein’s valuation. Other possible causes include the recent sell-off in other tech stocks. Shein has been accused of employing labour from sweatshops and of polluting the environment with its model of conducting business in the fast fashion industry.

“The new funding will be used to help Shein expand its operations and develop new products”

Shein continues to be a significant player in the fashion industry despite the difficulties described above. The previous year, the company recorded revenue of $23 billion. It is anticipated that this year’s revenue will increase by an additional 40%. Additionally, Shein is broadening its business operations into new regions.

Shein’s ability to overcome the obstacles it is currently facing and continue on its current path of expansion is something that remains to be seen. However, the company has demonstrated an impressive ability to adjust to new circumstances and prevail over obstacles in the past, and it is highly likely that it will remain a significant player in the fashion industry for many years to come.

Shein’s success has been significantly influenced by how well-liked it is with Gen Z customers. In a survey of 7000 American teenagers, Shein was rated as the second most popular e-commerce site in 2022. Young people frequently shop at Shein because of its low costs and large selection of trendy clothing.


Reliance to Launch Low-Cost Fashion Marketplace Ajio Street

Reliance Industries, India’s largest conglomerate, has launched a new fashion marketplace called Ajio Street. The platform is aimed at smaller cities and towns.




The biggest conglomerate in India, Reliance Industries, has introduced Ajio Street, a brand-new marketplace for clothing. The platform is designed for consumers looking for affordable clothing in smaller Indian cities and towns.

Ajio Street is anticipated to face off against Meesho, a well-known online retailer of affordable apparel and accessories. Meesho’s user base has increased to over 100 million as a result of its recent, rapid growth.

One of the biggest and fastest-growing fashion markets worldwide is in India. But the market is also very sensitive to price. The best prices are always sought after by Indian shoppers, and they are not averse to switching brands when they discover lower prices elsewhere.

This is why the Indian fashion market places such a high value on affordability. Low-cost brands have a greater chance of success. Ajio Street is relying on this fact and launching its new platform in an effort to draw a sizable number of customers looking for affordable fashion.

“Reliance Ajio Targets Indian Fashion E-Commerce with Zero-Commission Model”

Reliance has a history of using strategies that prioritise affordability in order to succeed. The company has employed this strategy in the past with great success in the retail and telecommunications industries.

Reliance launched Jio, a low-cost wireless service that provided free voice calls and discounted data rates, in the telecommunications industry. Jio quickly rose to prominence as one of India’s most widely used wireless services, and it now has more than 430 million subscribers.

Reliance has established a sizable network of supermarkets and hypermarkets throughout India in the retail sector. The company’s retail locations draw a lot of customers with their wide selection of goods at affordable prices.

Ajio Street’s Competition

Other significant players in the Indian fashion market, such as Flipkart and Amazon, will give Ajio Street fierce competition. Reliance is optimistic that its new platform will be a success, though. The company is aiming for a sizable and expanding market and has a proven track record of success in the Indian market.

An important development for the Indian fashion industry is Ajio Street. The platform could reshape the market by drawing a sizable number of consumers interested in affordable fashion.

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Nandita Das: Cannes is to Celebrate Films, Not Fashion

The Cannes Film Festival has always provided a stage for filmmakers, actors, and artists to share their work and express their love of storytelling.




Photo: Instagram

Since 1946, the Cannes Film Festival has symbolised film industry excellence on the French Riviera. It showcases independent and international films.

The festival has promoted great films and discovered new talent. The Palme d’Or is cinema’s highest honour.

The Cannes red carpet has become as famous for its fashion as for its films. Celebrities, models, and actresses often get more attention for their outfits than the festival itself.The media emphasises fashion over film quality. Some critics say the festival should focus on filmmaking. 

Nandita Das, known for her thought-provoking roles and social activism, was disappointed to miss Cannes this year. She wrote on Instagram that the festival should focus on films, not fashion. Cannes, according to Nandita Das, is about uniting diverse cinematic voices and narratives across borders and cultures.

“Nandita Das reminds everyone that the Cannes Film Festival is a celebration of cinema, not fashion”

Nandita Das posted a collection of photos from previous Cannes appearances, highlighting her preference for donning saris, the traditional Indian attire. She views the sari as an expression of her Indian heritage and of simplicity and elegance.

In order to redirect the conversation back to movies rather than fashion, Nandita Das wore saris on the red carpet to emphasise the cultural diversity and depth of Indian cinema.

Filmmaker Vivek Agnihotri also criticised Cannes’ fashion obsession. He tweeted sarcastically that the festival is about films. Agnihotri’s comment underscores the worry that the red carpet’s glitz and glamour may overshadow the event’s main goal of honouring great filmmaking.

Actress Nandita Das’s Instagram post and filmmaker Vivek Agnihotri’s tweet remind Cannes to prioritise films over fashion. Refocusing on the amazing films, diverse stories, and artistic achievements that make the festival a true celebration of cinema is essential.

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Mrunal Thakur Stuns at the 2023 Cannes Film Festival

Mrunal wore a custom Falguni Shane Peacock ivory cut-out gown to the “Black Flies” premiere. The gown was bold and elegant, enhancing Thakur’s beauty.




Photo: Instagram

Mrunal Thakur, the Indian actress known for her roles in films like “Jersey” and “Love Sonia,” made her debut at the Cannes Film Festival on Thursday, May 19. Thakur arrived at the premiere of the film “Black Flies” in a custom-made Falguni Shane Peacock ivory-colored cut-out gown. The gown was daring and elegant, and it perfectly complemented Thakur’s beauty.

The one-shoulder-exposing neckline added sensuality, while strategically placed cut-outs on the torso and waist conveyed confidence and style.

The ivory gown’s ruffled front and shimmering sequins and beads elevated the look. The ensemble’s star was Thakur’s sheer feather-adorned train, which gave her a dreamlike appearance. The train floated gracefully as she climbed the Cannes stairs, adding to her grandeur.

Mrunal wore minimal makeup to highlight her risqué dress’s intricate details. To complete her look, she wore delicate earrings, a statement ring, and heels. Her side-parted open hair framed her face elegantly.

Her glamorous look was balanced by darkened brows, rouged cheekbones, a soft pink nude lip shade, glowing highlighter, mascara-laden lashes, and subtle eyeshadow.

“Mrunal Thakur Shines Bright at Cannes Film Festival in Jaw-Dropping Cut-Out Dress”

Mrunal Thakur’s Cannes Film Festival debut

Fans and fashionistas worldwide lauded Thakur’s Cannes Film Festival debut. As her photos flooded timelines, fan pages couldn’t contain their excitement, praising the actor for her stunning appearance. Thakur became a global entertainment star after this red carpet moment.

The Cannes Film Festival is known for timeless elegance, avant-garde fashion, and unforgettable red carpet moments. Thakur’s debut in her daring cut-out gown made the festival’s history.

Her confident and bold outfit shows how fashion evolves and allows artistic expression. As the festival continues, anticipation builds for the next stunning red carpet looks, cementing Cannes’ reputation as a playground for the world’s most talented and stylish.

Mrunal was not the only Bollywood actor at the Cannes Film Festival. Sara Ali Khan, another Bollywood star, made her Cannes debut this year, adding to the festival’s glamour.

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