Temu hits $20 billion sales in H1 fueled by expansion efforts: report

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Temu surpassed its 2023 total sales in the first half of this year to reach around $20 billion, according to a 36Kr report, underscoring the Pinduoduo sister app’s surging momentum as it pursues global expansion. Fast fashion retailer Shein, which is also largely rooted in China-based manufacturing, reported generating over $20 billion for the first time in 2022. The report mentioned Brazil was second in terms of downloads for the Temu app in the last 30 days, with more than 5 million downloads, just after the US. However, the eye-catching sales figure still lags behind Temu’s goal to triple its sales to $60 billion globally in 2024. [36Kr, in Chinese]Related