Temu Takes Shein To Court: What Does This Mean for US Fashion Retail?

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Temu Takes Shein To Court: What Does This Mean for US Fashion Retail?

Benzinga2023-12-15

PDD Holdings Inc (NASDAQ: PDD)-owned Temu has filed a lawsuit against Shein, a fast-fashion rival, in the U.S. District Court for the District of Columbia, alleging intensified anti-competitive ...

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Buythedip
·2023-12-16
Is SHEIN worth $90B ? And worth half of PDD and even more ridiculously worth half of BABA? Think about it and how is this not an overcrowded traded stock. While baba is being shorted down like a cheap stock, if this is not manipulated then what is it? just a matter of time when the band snaps and it bounce like a rocket to the moon. $Alibaba(BABA)$ $Pinduoduo Inc.(PDD)$
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that Shein's anti-competitive behavior has become increasingly aggressive, necessitating this lawsuit. Shein, which has yet to respond to these allegations, is reportedly pursuing an initial public offering in the U.S., targeting a valuation as high as $90 billion.Temu's entry into the U.S. market in late 2022 is said to have contributed to a decline in Shein's valuation, previously exceeding $100 billion. The lawsuit also alleges Shein's corporate relocation to Singapore as a strategy to improve its reputation, despite most of its operations and employees remaining in China. Additionally, Temu accuses Shein of poaching its marketing executives and signing restrictive supplier agreements.According to Bloomberg Second Measure data, Temu has been leading in U.S. transactions against Shein since May, with its parent company PDD's market capitalization recently surpassing Alibaba Group Holding Ltd (NYSE: BABA), partly due to Temu's international achievements.PDD stock has gained over 73% 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And worth half of PDD and even more ridiculously worth half of BABA? Think about it and how is this not an overcrowded traded stock. While baba is being shorted down like a cheap stock, if this is not manipulated then what is it? just a matter of time when the band snaps and it bounce like a rocket to the moon.&nbsp;<a href=\"https://ttm.financial/S/BABA\">$Alibaba(BABA)$&nbsp;</a><a href=\"https://ttm.financial/S/PDD\">$Pinduoduo Inc.(PDD)$&nbsp;</a>","listText":"Is SHEIN worth $90B ? And worth half of PDD and even more ridiculously worth half of BABA? Think about it and how is this not an overcrowded traded stock. While baba is being shorted down like a cheap stock, if this is not manipulated then what is it? just a matter of time when the band snaps and it bounce like a rocket to the moon.&nbsp;<a href=\"https://ttm.financial/S/BABA\">$Alibaba(BABA)$&nbsp;</a><a href=\"https://ttm.financial/S/PDD\">$Pinduoduo Inc.(PDD)$&nbsp;</a>","text":"Is SHEIN worth $90B ? And worth half of PDD and even more ridiculously worth half of BABA? Think about it and how is this not an overcrowded traded stock. While baba is being shorted down like a cheap stock, if this is not manipulated then what is it? just a matter of time when the band snaps and it bounce like a rocket to the moon. $Alibaba(BABA)$ $Pinduoduo Inc.(PDD)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/252504614019360","repostId":2391724574,"repostType":2,"repost":{"id":"2391724574","pubTimestamp":1702611579,"share":"https://ttm.financial/m/news/2391724574?lang=&edition=fundamental","pubTime":"2023-12-15 11:39","market":"us","language":"en","title":"Temu Takes Shein To Court: What Does This Mean for US Fashion Retail?","url":"https://stock-news.laohu8.com/highlight/detail?id=2391724574","media":"Benzinga","summary":"PDD Holdings Inc-owned Temu has filed a lawsuit against Shein, afast-fashion rival, in the U.S. District Court for the District of Columbia, alleging intensified anti-competitive practices.This legal action reignites a previous conflict between the two companies, each having withdrawn earlier lawsuits against the other.Temu, operated byWhaleco Inc, accuses Shein of implementing a \"desperate plan\" to undercut its business.This includes issuing copyright takedown notices, enforcing exclusive agreements with fashion suppliers, and exerting pressure on Temu merchants, Bloombergreports.Also Read:Temu vs. Dollar Stores: Is Alibaba's Competitor Rewriting the Rules of American Retail?The lawsuit details how Shein allegedly coerced Chinese suppliers who listed their products on both platforms, forcing them to surrender phone passwords and transaction records related to Temu.Temu contends that Shein's anti-competitive behavior has become increasingly aggressive, necessitating this lawsuit.Shein,","content":"<html><head></head><body><p><strong>PDD Holdings Inc</strong> (NASDAQ: PDD)-owned Temu has filed a lawsuit against Shein, a fast-fashion rival, in the U.S. District Court for the District of Columbia, alleging intensified anti-competitive practices. </p><p>This legal action reignites a previous conflict between the two companies, each having withdrawn earlier lawsuits against the other. </p><p>Temu, operated by <strong>Whaleco Inc</strong>, accuses Shein of implementing a &#34;desperate plan&#34; to undercut its business. </p><p>This includes issuing copyright takedown notices, enforcing exclusive agreements with fashion suppliers, and exerting pressure on Temu merchants, Bloomberg reports.</p><p>The lawsuit details how Shein allegedly coerced Chinese suppliers who listed their products on both platforms, forcing them to surrender phone passwords and transaction records related to Temu. </p><p>Temu contends that Shein&#39;s anti-competitive behavior has become increasingly aggressive, necessitating this lawsuit. </p><p>Shein, which has yet to respond to these allegations, is reportedly pursuing an initial public offering in the U.S., targeting a valuation as high as $90 billion.</p><p>Temu&#39;s entry into the U.S. market in late 2022 is said to have contributed to a decline in Shein&#39;s valuation, previously exceeding $100 billion. </p><p>The lawsuit also alleges Shein&#39;s corporate relocation to Singapore as a strategy to improve its reputation, despite most of its operations and employees remaining in China. </p><p>Additionally, Temu accuses Shein of poaching its marketing executives and signing restrictive supplier agreements.</p><p>According to Bloomberg Second Measure data, Temu has been leading in U.S. transactions against Shein since May, with its parent company PDD&#39;s market capitalization recently surpassing <strong>Alibaba Group Holding Ltd</strong> (NYSE: BABA), partly due to Temu&#39;s international achievements.</p><p>PDD stock has gained over 73% year-to-date while BABA lost over 22%.</p></body></html>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" 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class=\"meta\">\n\n\n2023-12-15 11:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alibaba-rival-temu-takes-shein-130710863.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PDD Holdings Inc (NASDAQ: PDD)-owned Temu has filed a lawsuit against Shein, a fast-fashion rival, in the U.S. District Court for the District of Columbia, alleging intensified anti-competitive ...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-rival-temu-takes-shein-130710863.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","BK4585":"ETF&股票定投概念","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","BK4554":"元宇宙及AR概念","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4553":"喜马拉雅资本持仓","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","LU1242518857.USD":"FULLERTON LUX FUNDS - 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SGD-H","LU0140636845.USD":"施罗德大中华区股票A Acc","LU0880133367.SGD":"UBS (LUX) EQUITY FUND CHINA OPPORTUNITY USD \"P\" (SGD) ACC"},"source_url":"https://finance.yahoo.com/news/alibaba-rival-temu-takes-shein-130710863.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2391724574","content_text":"PDD Holdings Inc (NASDAQ: PDD)-owned Temu has filed a lawsuit against Shein, a fast-fashion rival, in the U.S. District Court for the District of Columbia, alleging intensified anti-competitive practices. This legal action reignites a previous conflict between the two companies, each having withdrawn earlier lawsuits against the other. Temu, operated by Whaleco Inc, accuses Shein of implementing a \"desperate plan\" to undercut its business. This includes issuing copyright takedown notices, enforcing exclusive agreements with fashion suppliers, and exerting pressure on Temu merchants, Bloomberg reports.The lawsuit details how Shein allegedly coerced Chinese suppliers who listed their products on both platforms, forcing them to surrender phone passwords and transaction records related to Temu. Temu contends that Shein's anti-competitive behavior has become increasingly aggressive, necessitating this lawsuit. Shein, which has yet to respond to these allegations, is reportedly pursuing an initial public offering in the U.S., targeting a valuation as high as $90 billion.Temu's entry into the U.S. market in late 2022 is said to have contributed to a decline in Shein's valuation, previously exceeding $100 billion. The lawsuit also alleges Shein's corporate relocation to Singapore as a strategy to improve its reputation, despite most of its operations and employees remaining in China. Additionally, Temu accuses Shein of poaching its marketing executives and signing restrictive supplier agreements.According to Bloomberg Second Measure data, Temu has been leading in U.S. transactions against Shein since May, with its parent company PDD's market capitalization recently surpassing Alibaba Group Holding Ltd (NYSE: BABA), partly due to Temu's international achievements.PDD stock has gained over 73% year-to-date while BABA lost over 22%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":3,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}