ALIEXPRESS
Global Market: Shein's weak listing draws analyst concerns over valuation and margins
Shein shares fell 8% on their Hong Kong debut despite strong IPO demand, reflecting concerns over slowing growth, tariffs, trade restrictions, valuation and competition. The fast-fashion giant is diversifying into third-party marketplaces and lifestyle categories, but investors remain cautious about whether Shein can sustain growth and profitability amid rising challenges.
Fast-fashion giant Shein plunges 10% on Hong Kong debut
In its inaugural trading day in Hong Kong, fast-fashion retailer Shein experienced a ten percent drop in stock prices. The company successfully secured US$1.7 billion through its initial public offering, although its valuation now faces challenges at US$26.3 billion, a decline from previous private fundraising rounds in 2022. Despite plans to enhance technology and expand globally, analysts foresee hurdles from competition and new import duties impacting growth prospects.
EU hits AliExpress with a record 550 million-euro fine over unsafe and counterfeit goods
The European Commission has fined AliExpress 550 million euros for failing to stop unsafe products. This significant penalty is the largest ever under the Digital Services Act. The commission cited AliExpress's inadequate efforts to address illegal and harmful items. AliExpress stated it is reviewing the decision and considering its options. The company must submit an action plan by October 20.
Chinese e-commerce site angers millions by selling doormat with Lord Jagannath’s image; Company responds
A major controversy erupted in Odisha after AliExpress listed doormats featuring Lord Jagannath's image, deeply hurting devotees' sentiments. Deputy Chief Minister Pravati Parida and others strongly condemned the act, demanding immediate removal and an apology. AliExpress responded by taking down the item and apologizing after facing severe backlash from leaders and devotees.
Privacy group files complaint against AliExpress, TikTok and WeChat
While most tech companies have a tool to fulfil requests for downloading user information, some Chinese companies have made it difficult to access the information, noyb said. "TikTok, AliExpress and WeChat love collecting as much data about you as possible but vehemently refuse to give you full access as required by EU law," said Kleanthi Sardeli, data protection lawyer at noyb.
TikTok hit by fresh complaint over data access
Online privacy campaigners filed fresh complaints against social media giant TikTok and two other Chinese-owned companies on Thursday, saying they had failed to comply with data access requests. "All three tech companies have failed to comply with access requests.
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Privacy group files complaint against AliExpress, TikTok, WeChat
Austrian advocacy group noyb has filed data privacy complaints against AliExpress, TikTok, and WeChat, alleging non-compliance with EU laws regarding user data access. The complaints highlight difficulties users face in obtaining a full copy of their data from these Chinese companies, contrasting with the tools offered by most tech firms.
Seoul asks Temu, AliExpress to pull children's products over safety concerns
Seoul has asked Temu and AliExpress to suspend sales of certain children’s products after finding hazardous substances far above safety limits. Phthalates and lead were detected at dangerous levels. Temu is reviewing and removing items, while AliExpress has yet to respond. Last year, the city government said women's accessories sold by Shein, AliExpress and Temu contained toxic substances.
EU accepts AliExpress' commitments to catch illegal online products
The European Commission has accepted legally binding commitments from Alibaba’s AliExpress to tackle the spread of illegal and pornographic content on its platform. Measures include improved detection systems for banned items like medicines and adult material, enhanced flagging mechanisms, and a strengthened internal complaints process to address regulatory concerns.
Chinese apps including TikTok hit by privacy complaints in Europe
Online privacy campaigners said Thursday they had filed complaints in several European countries against six Chinese companies including TikTok, accusing them of "unlawfully" sending Europeans' personal data to China. Prominent Austria-based privacy campaign group NOYB (None of Your Business) said it has lodged six complaints against TikTok, AliExpress, SHEIN, Temu, WeChat and Xiaomi -- in its first such action against Chinese companies.
Alibaba integrates ecommerce platforms into a single business unit
Alibaba International Digital Commerce (AIDC) group chief Jiang Fan, a former head of Tmall who was demoted in 2020 following an online scandal, has been tapped to lead the new unit. He will report to Alibaba Group CEO Eddie Wu.
EU takes aim at China's Temu and Shein with proposed import duty
The EU considers imposing customs duties on Chinese online retailers like Shein and Temu. The plan involves scrapping the 150 euros duty-free threshold for non-EU online purchases. The high volume of e-commerce parcels prompts the EU to speed up customs reform, impacting companies like AliExpress' parent Alibaba. Shein and Temu are criticized for exploiting US import tax exemptions to sell cheap products.
EU targets TikTok, other apps over AI risk to elections
The EU on Thursday wielded a powerful new digital law to press TikTok, Facebook and six other platforms on the risk of AI to elections, including through deepfakes. The announcement looking at the AI risk to EU elections came a day after the European Parliament voted to adopt a new law that seeks to curb abuses of artificial intelligence.
Alibaba plans to invest $1.1 billion in South Korea: report
The Chinese ecommerce giant plans to spend $200 million this year on building the logistics center and $100 million to help small and mid-sized South Korean firms sell their products overseas.
South Korea probes data protection by ecommerce platforms like AliExpress, Temu
The Personal Information Protection Commission said it has been investigating overseas ecommerce platforms since last month, after a parliament audit last year raised questions about data handling by platforms such as AliExpress and PDD Holdings' international facing discount ecommerce platform Temu.
Alibaba’s global online commerce arm weighs a US IPO
Global online shopping unit includes Lazada, AliExpress, and has been valued by analysts at $39 billion.
Brazil to end tax exemption on international orders, targeting Asian e-commerce giants
The revenue service said that the exemption never applied to e-commerce but only to shipments from individual to individual, and had been "widely and fraudulently used for sales made by foreign companies."
Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war
A Nikkei report said it was not clear if there would be more layoffs, after some of the laid-off staff chose to leave voluntarily and a few relocated.
Alibaba looks to expand its Southeast Asian arm Lazada to Europe
The move comes months after Alibaba's logistics arm, Cainiao, opened a central hub for European sales in Belgium.
Government bans 43 more Chinese apps, SnackVideo and AliExpress on the list
The government had earlier banned apps such as ByteDance-owned TikTok, Helo along with WeChat, CamScanner and PUBG.
Chinese App Ban: AliExpress escapes the axe
AliExpress, which ships individual packages, had managed to keep a low profile despite allegedly using similar tactics.
Shein shuts down partially amid customs crackdown
Chinese etailer shuts down partially, refunds money amid action against ‘undervalued’ products.
Alibaba penalises sellers evading taxes in India
Alibaba said it has taken action against thousands of sellers on its platform who have been caught in the act.
Cheaper goods from Chinese e-tailers like Aliexpress, Club Factory, Shien may become a thing of past
It has been alleged that sellers on several Chinese online retail platforms, including Club Factory, Shien and Aliexpress have been sending goods marked as gifts into India to avoid import duty.
Alibaba sets up $2 billion Russia venture with Kremlin help
The Russian Direct Investment Fund will add an unspecified amount of funding in return for a 13 percent stake, while Mail.ru will hold the remaining 15 percent.
It's desi vs Chinese sellers on Paytm Mall
Paytm Mall, which is inspired by Alibaba's T-mall in China, was spun off into a separate business in 2017 by Paytm's parent One 97 Communications.
How an Alibaba arm offers mouth-watering deals that Indian ecommerce players can't
An Indian seller, after getting the product from China, adds to it his margin, logistics cost, inventory holding cost and other taxes, which inflate its price.
Tips to make your international online buying a nice experience
A recent PayPal report says that in 2015, Indians would have spent Rs 54,700 crore shopping from online sites based abroad.
Paytm in discussions with AliExpress over possible business cooperation
“According to our initial estimates, we’ll be able to double our gross merchandise within six months with the help of AliExpress integration,” Amit Lakhotia, vice president-payments at Paytm told ET.
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