Temu news and archive

Temu parent company PDD Holdings increases annual sales by 59 percent

The publicly traded e-commerce group PDD Holdings Inc., which operates the online platforms Temu and Pinduoduo, significantly increased its revenue in fiscal year 2024. However, the growth rate in the fourth quarter was below the annual average, according to preliminary, unaudited figures released by the company on Thursday. According to the...

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Temu's Chinese owner sees revenue growth slow

Chinese e-commerce giant PDD Holdings announced Thursday slower revenue growth for the third quarter running, as the Temu owner confronts trade tensions between Beijing and Washington. The Shanghai-based company posted revenues of 110 billion yuan ($15 billion) in the three months to December 31, up 24 percent year-on-year. The figure was down...

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U.S. tariff crackdown hits Chinese fast fashion giants

Chinese fast fashion giants Shein and Temu are facing declining sales in the U.S. following Donald Trump’s renewed tariff measures targeting Chinese imports. Sales have dropped 16 percent and 41 percent respectively since Trump’s inauguration, driven by the elimination of the “de minimis” trade rule, which previously exempted goods under 800...

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EU's e-commerce crackdown: A new era for fashion industry protection

According to a recent Financial Times report, the European Union is set to dramatically reshape the e-commerce landscape with new regulations targeting major platforms like Shein, Temu, and Amazon Marketplace. The proposed reforms would make these platforms directly liable for dangerous or counterfeit products sold through their sites - a...

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The Rise of Temu: Disruption, convenience, and the hidden costs of hyper-consumerism

In an era of digital marketplace transformation, Temu has emerged as a lightning rod for both economic innovation and critical scrutiny of contemporary consumption patterns. The platform's meteoric rise — achieving a 53 percent year-on-year growth in monthly active users in the United Kingdom — represents more than a digital success story; it...

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Temu parent PDD Holdings Q3 revenues increase by 44 percent

PDD Holdings in its unaudited financial results statement for the third quarter reported revenues of 99,354.4 million Chinese yuan (14,157.9 million dollars), an increase of 44 percent. “Over the past quarter, our focus remained on driving the high-quality development of the platforms,” said Lei Chen, chairman and co-chief executive officer of...

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Podcast: How Indonesia's demand to remove the Temu app impacts global trade

Indonesia recently requested Google and Apple to remove the Temu app, owned by PDD Holdings, from its national app stores to protect local businesses from the sale of extremely cheap products. This direct action, without accusations of illegal activity, is rare and raises questions about how the tech giants will respond. The action could inspire...

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Vietnam threatens technical block on Chinese e-commerce giants Shein and Temu

The Vietnamese government is threatening to block the internet domains and apps of Chinese online retailers Shein and Temu if they fail to register their operations with the Ministry of Commerce by the end of November 2024. The move comes amid concerns over the growing influence of the wildly popular e-commerce giants on the economies of local...

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European Commission issues official warning to Temu

The European Commission and the Consumer Protection Cooperation are issuing an official warning to the Chinese online marketplace Temu. The watchdogs have warned Temu that the company must comply with European market rules following an investigation by the commission itself, the organisation wrote in a press release. The European Commission has...

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European Commission launches investigation into Temu

The European Commission is launching an investigation into Chinese e-commerce platform Temu, a subsidiary of PDD Holdings. This was reported by Bloomberg based on anonymous sources. Temu is growing rapidly in Europe thanks to its low-price strategy. The platform is the international version of Chinese e-commerce giant Pinduoduo, founded in 2015,...

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Uncle Sam is coming for Temu – and whistleblowers may be, too

Are you a business owner? Do you shop online for products for your business? Then like hundreds of millions of others, you’ve been blasted with ads from Temu, an e-commerce giant with roots in China, hawking products at prices you can’t believe. Need to source some beauty and health products for resale? Looking for plain T-shirts to screenprint...

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Fast fashion setback: Indonesia wants to block popular Temu shopping app

The Indonesian government appears to have taken steps to potentially restrict online marketplace Temu's presence in its region, asking Google and Apple to ban the app. While Temu is a relatively new e-commerce platform that has rapidly expanded its operations globally since its launch in 2022, initial scrutiny and criticism in various markets,...