The EU will apply a €3 duty on items under €150 from July 1, as the bloc seeks to slow the flood of low-priced merchandise from retailers like Shein and Temu
Bargain-hunting consumers across the European Union will start feeling the pinch of higher online shopping costs next week …
The European Commission fines Temu €200M under the DSA for allegedly failing to adequately stop the sale of illegal products; further penalties could follow
Chinese online retailer Temu has been fined €200 million ($232 million) on Thursday for not doing enough to stop the sale …
Temu owner PDD reports Q1 revenue up 11% YoY to ~$15.7B, below ~$16.2B est., net profit down 15% to ~$1.85B, below ~$3.4B est.; PDD closes down 10.38%
The company is rolling out more support initiatives to prevent merchants from defecting to other platforms
Amazon launches its first smart warehouse in Shenzhen, aiming to cut local merchant storage costs by up to 45% as competition with Shein and Temu intensifies
Amazon expands China push with smart warehouse model, aiming to retain sellers amid rising competition from Temu and Shein
Temu owner PDD reports Q4 revenue up 12% YoY to ~$18B and net profit down 11% YoY to ~$3.56B, below ~$4B est., as it seeks to retain merchants on its platform
Temu owner PDD reports Q4 revenue up 12% YoY to ~$18B and net profit down 11% YoY to ~$3.56B, below ~$4B est., as it seeks to retain merchants on its platform
The comphad cautioned that its performance could fluctuate as it rolled out support to keep merchants from defecting to other platforms
Sources: China broadens its probe into Temu owner PDD, dispatching 100+ investigators to its Shanghai HQ, after staff exchanged physical blows with regulators
China has broadened a probe into PDD Holdings Inc. after its employees exchanged blows with regulators, dispatching over 100 investigators …
Sources: Pinduoduo and Temu owner PDD fires dozens following a fistfight between employees and Chinese officials probing fraudulent deliveries on its platform
Bloomberg :
The EU opens investigations into Temu and airport scanner maker Nuctech to assess whether they unfairly penetrated the EU market thanks to Beijing subsidies
Francesca Micheletti / Politico :
PDD, which owns Pinduoduo and Temu, reports Q3 revenue up 9% YoY to ~$15.2B, above ~$15.1B est., and net income up 17% YoY to ~$4.1B, as it weathers US tariffs
Bloomberg :