Fast-fashion retailer Forever 21 set to shut all US stores
I have Forever 21 I filed for bankruptcy protection For the first time in six years, he cited the fierce competition between online first fashion giants Shayne and Tem as a major factor in their financial struggle. The retailer's operator is planning to close all US businesses, with liquidation sales already underway at over 350 […]
Temu owner’s shares plummet 30% as fast-fashion competition intensifies
Shares in PDD Holdings, the parent company of Chinese e-commerce giant Tem, fell nearly 30% on Monday after the company warned that growing competition in the fast fashion sector could cause profits to fall. PDD co-founder Lei stressed that the company’s current growth is not sustainable as it battles with rivals such as Shein, Bytedance’s […]