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...Many of those suppliers responded by switching to selling items on Temu, owned by Nasdaq-listed PDD Holdings, which is spending billions of dollars trying to replicate Shein’s success in shipping ultra-cheap...
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...All were flown in from China by Temu’s parent company PDD Holdings, a self-described “agricultural group” engaged in what might be the fastest and most ambitious retail expansion in history....
...Shanghai-based ecommerce giant PDD Holdings launched Temu in the US in September 2022 and then spent close to $3bn in marketing last year, according to estimates from research group Bernstein....
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...That is so much smaller than Alibaba, which has hundreds of thousands. Amazon, by the way, has 1.5mn people working for it....
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