Shein’s Lead Under Fire as Chinese-Owned App Tops US Charts
- Temu is said to have set ambitious target in popular market
- PDD-owned platform splashed out on two Super Bowl ad spots
Customers hold Shein bags outside the Shein Tokyo showroom in Tokyo, Japan.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
It took Shein a decade to catch up to Inditex SA’s Zara as the world’s top fast-fashion retailer. Now, a new online upstart wants to surpass Shein — at least on one important measure — within a year.
Temu, a shopping platform owned by Chinese e-commerce heavyweight PDD Holdings Inc., set a lofty sales target for its North American business last month: report at least a single day of gross merchandise value that tops Shein’s between now and Sept. 1, to mark the anniversary of its entry into the US market, according to people familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly.