Get started-Up E-Trade Platform Temu Expands to Europe

Extremely-low-cost e-commerce platform Temu, owned via PDD Holdings, has began promoting to Eu markets, together with France, Germany, Italy, The Netherlands, Spain and the UK.

The Temu site now presentations all of those markets on its location drop-down menu along with the USA, Canada, Australia and Unused Zealand, the place it had up to now already been to be had.

PDD Holdings didn’t instantly reply to Reuters request for remark at the enlargement.

Temu, the sister web page of Chinese language cut price e-commerce platform Pinduoduo, has made a bulky spray since launching in the USA extreme September, promoting sneakers, jewelry, attractiveness equipment and household items at once from Chinese language traders for terribly low costs.

It’s a matching cross-border type to the one who has propelled Shein, which ships to greater than 150 international locations, to develop into the arena’s greatest fast-fashion logo, with annual gross sales of greater than $58.5 billion.

Temu, which is headquartered in Boston, noticed 19 million US downloads within the first quarter of this presen, in line with cell knowledge company Sensor Tower, which additionally ranks Temu as essentially the most downloaded app on Apple and Google Play games shops in the USA.

The platform’s improper products worth — general gross sales ahead of bills — grew from $3 million in September to $192 million in January, in line with information company YipitData.

By means of Casey Corridor

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