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Temu's Win Over Shein in the US Is Hurting Its Bottom Line

(Bloomberg) Temu’s transformation over the past year is the stuff of business dreams.Most Read from BloombergIsrael Latest: US Determines Israel Wasn’t Behind Hospital BlastNobody Wants Mutual Funds NowTrump Ally Mike Johnson Becomes Latest GOP House Speaker NomineeBig Tech Earnings Whipsaw QQQ in Late Trading: Markets WrapChina Ousts Defense Minister, Ending Mystery Over His StatusVirtually unknown when it launched in the US last September, it’s now well and truly trumped industry giant Shei ....

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Temu's Win Over Shein in the US Is Hurting Its Bottom Line

Temu's Win Over Shein in the US Is Hurting Its Bottom Line
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A Once-Obscure Chinese Startup Overtakes Shein In US

(Bloomberg) This time last year, hardly anyone in the US knew what Temu was. Now, as American consumers grapple with runaway inflation, the bargain shopping app backed by a Chinese tech company is on a tear, with sales exceeding rival Shein.Most Read from BloombergBiggest Losers of AI Boom Are Knowledge Workers, McKinsey SaysNYC’s Rent Surge Defied by New Grads Pursuing a TikTok LifestyleElizabeth Holmes Objects to $250-a-Month Victim Payments After PrisonTrump Urges Prosecutors to Drop Case, ....

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