Chinese-owned online retailer Temu sued rival Shein in the US, alleging it violated antitrust laws by using threats and intimidation to block clothing manufacturers from working with the fast-rising upstart. Moneyweb SheinRICO
Chinese-owned online retailer Temu sued rival Shein in the US, alleging it violated antitrust laws by using threats and intimidation to block clothing manufacturers from working with the fast-rising upstart. Shein and Temu, owned by PDD Holdings, are two of the rising powers in online retail, a growing threat to the likes of H&M and Zara. The lawsuit offers a rare glimpse into the business models of the two secretive companies — and their fierce competitive practices.
Shein led the way in pioneering ultra fast-fashion, offering consumers the latest fashion products at bargain prices, with shirts and swimsuits as low as $2. That helped the company become one of the most successful startups in the world, with a valuation of $66 billion, according to the market research firm CB Insights. “We believe this lawsuit is without merit and we will vigorously defend ourselves,” a Shein spokesperson said in an email statement.
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