BRIEF: Shein profit tumbles 40% as competition heats up
Fast fashion e-commerce company Shein’s sales rose 19% last year to $38 billion, but its profit tumbled nearly 40% to $1 billion amid stiff competition, the Financial Times reported on…
Shein loses its shine on bumpy path to London listing
The fast fashion giant’s lack of transparency about its cotton sourcing could hurt its valuation in the long and turbulent journey to its IPO Key Takeaways: Shein’s reported plan to…
Beaten down PDD ends 2024 with Southeast Asian setbacks
The e-commerce giant’s Temu overseas arm, along with fast-fashion sensation Shein, have been ordered to suspend their operations in Vietnam Key Takeaways: After being blocked in Indonesia, PDD’s overseas Temu…
PODCAST: China Talks with EU on EV Tariffs, and Indonesia Eyes Temu Ban
China and the EU are trying to reach a deal to avoid EU tariffs on Chinese EVs. And Indonesia asks Apple and Google to evict China's popular Temu e-commerce app.
BRIEF: TikTok to shutter year-old music streaming platform
Short video platform TikTok announced it will discontinue its TikTok Music streaming service on Nov. 28, just over a year after launching the service, Caixin reported. TikTok said that customer…
Far from fast: Shein’s overseas odyssey hits fresh obstacles
The fashion retailer’s IPO ambitions are facing political pushback in Britain, while the proposed closure of a U.S. tax loophole could hurt the company’s commercial fortunes Key Takeaways: A politician…
PODCAST: Tax on Temu, and EVs Outpower Gas Cars
The US closes a loophole that allowed Temu and Shein to import goods duty-free. How will this impact their sales? And sales of Chinese EVs passed gas-powered cars for a second straight month in August. Has the EV era finally arrived?
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