Alibaba.com Launches in Morocco to Boost Exports to North America; TikTok Shop Leads U.S. Holiday Sales with 225.9% YoY Growth
Latest news and analysis on China’s global e-sellers
Here’s our pick for last week’s news:
Alibaba.com Sees 30% GMV Growth
Shein Seeks London IPO with Less Than 10% Public Sale
SHARGE Raises 100M RMB in One Month
TikTok Shop Leads U.S. Holiday Sales with 225.9% YoY Growth
Wisson Raises 200M RMB to Expand Global Robotics Reach
Shein Partners with Reliance Retail to Re-enter Indian Market
NARWAL Robotics Secures Billions of Yuan in Funding for Global Expansion
Temu Expands in Mexico Amid New Tariffs and VAT Regulations
PILTON Sets Sights on Asia Expansion Following 30M RMB Funding
Temu Tops U.S. iOS Downloads for Second Year
Chinese Brands Claims Four of Top Five Spots in Global Smart Vacuum Market
Alibaba.com Launches in Morocco to Boost Exports to North America
Alibaba.com Sees 30% GMV Growth
Alibaba Group's B2B marketplace Alibaba.com's GMV surged 30% since December, driven by strong growth in paying buyers and traffic. The European market saw the most rapid expansion, with the platform ranking in the top 5 app downloads in key countries, including a notable third place in France. In the U.S., retailers are increasingly using Alibaba.com to stock up, fueling growth across all sectors.
Shein Seeks London IPO with Less Than 10% Public Sale
Shein is considering requesting UK regulators to waive the 10% public offering requirement for its planned London IPO, sources said. If approved, this could mark the first time a company in London has been allowed to float with less than 10% available to the public. The fast fashion giant, valued at $66 billion last year, could potentially raise $6.6 billion in a 10% flotation. The exact amount Shein aims to raise through the London listing is still unclear.
SHARGE Raises 100M RMB in One Month
On December 18, SHARGE announced it raised tens of millions of yuan in A+ series funding from Vitalbridge Capital, following an A round led by Forebright Capital on November 20. In just one month, the company secured over 100 million RMB (13.70 million USD), sparking industry buzz.
Founded in 2020, SHARGE specializes in high-performance charging and energy storage products. Its first 100W power bank, launched on Kickstarter, raised over $1 million in crowdfunding. In 2023, the company expanded into AI hardware and on December 19th 2024, SHARGE unveiled China's first mass-produced AI glasses in Shenzhen. SHARGE projected revenues of over 200 million RMB (27.40 million USD) for 2024.
TikTok Shop Leads U.S. Holiday Sales with 225.9% YoY Growth
Holiday spending in 2024 remained nearly flat in the U.S., growing just 0.1% YoY between November 1 and December 4, a sharp slowdown from last year's 1.1% increase, according to Earnest credit card data. Chinese e-commerce platforms continued to outperform in the U.S., with TikTok Shop leading the charge with a 225.9% YoY sales surge. Shein grew 20.5%, while Temu saw an 18.5% rise. Meanwhile, major Western retailers struggled: Amazon's sales dropped 0.5%, Target fell 4.6%, and Best Buy saw a 7.8% decline.
Wisson Raises 200M RMB to Expand Global Robotics Reach
Wisson has raised nearly 200 million RMB (27.40 million USD) in its latest fundings, spanning A, A+, and A2 series. The company will use the capital to enhance its core technology and drive global adoption of its flexible robotics solutions. Founded in 2019, Wisson developed the Pliabot® soft robotics technology, providing safe, agile, durable, and cost-effective robotic solutions. Now serving over 100 locations worldwide, Wisson is a leader in flexible robotic manipulators, powered by bionic artificial muscles and precision pneumatic-servo control, enabling lightweight, high-payload, and resilient robots for diverse applications.
Shein Partners with Reliance Retail to Re-enter Indian Market
India has approved Shein's return, contingent on sales through Reliance Retail, the country's largest retailer. Reliance, led by Isha Ambani, will oversee compliance with India's strict data protection laws, ensuring all operations and data remain under local control. The partnership, with Shein acting as a tech provider, will see the platform hosted in India, with Shein having no access to data.
Reliance Retail, valued at ₹8.3 trillion ($977 million), already partners with global luxury brands like Versace and Balenciaga and plans to sell Shein products on its e-commerce platform. This move signals a shift in India's stance on Chinese e-commerce, as Shein's app was banned in 2020 due to national security concerns, though its products were still available for sale.
NARWAL Robotics Secures Billions of Yuan in Funding for Global Expansion
NARWAL Robotics has secured billions of yuan in latest financing from Shenzhen and Wuxi's state-owned asset commissions, propelling its product innovation and global expansion. Since 2023, the company has seen explosive growth, with overseas revenue soaring nearly sevenfold by September and products available in over 30 markets, including North America, Europe, and Asia. NARWAL aims to accelerate this momentum, projecting a 3-4x revenue increase in 2025.
Temu Expands in Mexico Amid New Tariffs and VAT Regulations
Temu is advancing its localization strategy in Mexico by inviting local sellers to join its platform, aiming to reduce reliance on Chinese imports and boost partnerships with Mexican businesses. This move, similar to SHEIN's 2023 strategy, targets sellers with local inventory and logistics capabilities to improve delivery times and expand the availability of Mexican-made products.
The initiative comes as Mexico prepares to implement new tariffs and a 16% VAT on foreign e-commerce platforms in 2024. Temu's "local-to-local" model, successful in markets like the U.S., Germany, and France, will further diversify its supply chain and enhance competitiveness. Since its May 2023 launch in Mexico, Temu has seen over 6 million app downloads.
PILTON Sets Sights on Asia Expansion Following 30M RMB Funding
PILTON has secured 30 million RMB (4.11 million USD) in its latest Series A funding to accelerate product development and market expansion. Founded in 2022 as part of XCHO, the company specializes in smart pet products. PILTON expects 2024 sales to hit 40 million RMB (5.48 million USD), a sixfold increase from last year. Its smart pet cabin has already sold over 10,000 units in 14 countries, with plans to target Japan, Malaysia, and Taiwan in 2025.
Temu Tops U.S. iOS Downloads for Second Year
Temu topped Apple's U.S. iOS downloads for the second consecutive year. Despite growing scrutiny of Chinese tech companies, TikTok came in third in the ranking while Shein came in at number 12. Data from Appfigures shows TikTok was the second most downloaded app across both the App Store and Google Play in November, with 45 million downloads, while Temu garnered 30 million downloads, ranking seventh on both platforms.
Chinese Brands Claims Four of Top Five Spots in Global Smart Vacuum Market
Global shipments of smart robotic vacuums reached 5.014 million units in Q3 2024, marking an 11.1% year-on-year growth, according to IDC. The top five global brands were as follows: Chinese brand Roborock held the top spot with a 16.4% market share, marking its second consecutive quarter at number one. U.S. brand iRobot saw its share slip to 13.5%, though it remained the leader in key markets like the U.S., U.K., Canada, and Japan. Despite strong promotions, Suzhou-headquartered Ecovacs' price-based strategy resulted in a 2.5% decline in market share. Xiaomi's share edged up to 10.3%, while Dreame, also headquartered in Suzhou, led the top five with a 39.7% growth in shipments.
Alibaba.com Launches in Morocco to Boost Exports to North America
Alibaba Group's B2B marketplace Alibaba.com has officially launched its first site in Africa, targeting Moroccan businesses to expand their exports, particularly to North America. The e-commerce giant's new operations, in partnership with local company Clementia, aim to help small and medium-sized Moroccan firms access global markets. The expansion leverages Morocco's strategic location and advanced infrastructure, including the Tanger Med Port, to support trade growth. Alibaba is also exploring a dedicated page for Moroccan products on its platform to further boost exports.