The Tax Loophole That Helps Temu and Shein Keep Prices So Low ...Middle East

On Super Bowl Sunday, the e-commerce giant Temu flaunted their alluringly low prices in multiple ad spots during the game, encouraging customers to “shop like a billionaire.” Halsey Cook, the CEO of the South Carolina-based textile manufacturer Milliken & Company, was less than enthused. For the past couple years, he’s been watching as products similar to Milliken’s apparel lines have popped up on Temu and Shein for shockingly low prices. This incursion has had an outsized financial impact on the company: last fall, Milliken was forced to close two plants in the Southeast and laid off hundreds of workers, in part due to the newfound competition. “What we’re experiencing now in the do

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Last updated : 16 February 2024 clock 06:45 PM

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The Tax Loophole That Helps Temu and Shein Keep Prices So Low ...Middle East

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