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HONG KONG, July 19 (Reuters) – Chinese electronics retailer Temu said on Wednesday it had been the target of rival Shein’s “unlawful exclusion tactics” since Temu’s U.S. launch in 2022, escalating a feud between its fast-fashion rivals days after a lawsuit filed.
Temu, which is owned by PDD Holdings (PDD.O), filed a lawsuit alleging Shein violated US antitrust laws on Friday. In a statement sent to Reuters on Wednesday, the company said it had to take legal action to defend its rights and those of its traders due to “increased attacks” from Shein.
It marks the latest development in the increasingly competitive global fast fashion market where Chinese companies are vying for dominance.
Temu’s lawsuit on Friday alleges that Shein, which entered the US market in 2017 and has a $66 billion valuation, abused its market power in an effort to force manufacturers to shun Temu.
Temu’s complaint accused Shein of “forcing manufacturers to sign an oath of allegiance stating that they would not do business with Temu.”
A spokesman for Shein on Wednesday reiterated his initial statements regarding the lawsuit. “We believe this lawsuit is inappropriate and we will defend ourselves vigorously,” the spokesperson said.
Reported by Josh Ye; Edited by Jacqueline Wong and Jamie Freed
Our standard: The Thomson Reuters Principles of Trust.
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Sources 2/ https://www.reuters.com/business/retail-consumer/fast-fashion-retailer-temu-blasts-rival-shein-over-unlawful-exclusionary-tactics-2023-07-19/ The mention sources can contact us to remove/changing this article |
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