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Temu LLC is a US-based online marketplace that is a subsidiary of Pinduoduo Inc. or PDD Holdings Inc., a US-listed Chinese online retailer. It conquered the United States after becoming the most popular shopping app in just a short time after launch, and now it is expanding to Europe.
It was revealed this week that Temu has officially entered at least six European markets. It is already operating in the United Kingdom, the Netherlands, France, Italy, Spain, and Germany.
CNN Business reported that the Boston-headquartered e-commerce platform was only launched last year by PDD, which was formerly based in Shanghai. In the company’s latest regulatory filings, it was disclosed that its head office was recently moved to Dublin.
One reason why Temu quickly gained popularity in the U.S. is that it is a marketplace that has everything - from electronics to apparel and home goods. Prices of items there are also lower compared to other marketplaces, and this was possible due to the support from its over 11 million suppliers and fulfillment partners.
The online store was only introduced in September 2022 but already has tens of millions of users in the region and still continues to dominate the app stores. In any case, while it is making waves overseas, it is not available in China despite being owned by a Chinese firm.
TechInAsia reported that as Temu just landed in Europe, it is currently holding grand opening sales for each of the six countries. It was mentioned that the e-commerce platform is aiming to expand further and may also launch in other regions, such as Latin America and Africa, soon.
Meanwhile, Shopee and Lazada are rivals of Temu, and they have ambitions of venturing into the European markets as well, but their attempt was either delayed or a failure for various reasons. Despite being new, Temu bravely made its way there first and already gained lots of users.
