Temu leads growth in Q3, far ahead of Alibaba and JD.com

Against the backdrop of a struggling Chinese economy, challenger Temu continued to grow like crazy in Q3. While JD.com's e-commerce business returned to growth in China, this is not the case for Alibaba.

Through Morgane Monteiro, Sophie Baqué. Published on 22 November 2024 à 14h57 - Update on 25 November 2024 à 15h26

On November 21, PDD Holdings (Temu’s parent company) published Q3 figures. Sales reached US$14.2 billion, an increase of 44%, a marked slowdown on the 86%-uplift of Q2. Operating margin jumped by 46% at US$3.5 billion and net margin by 61% at US$3.6 billion.…

Morgane Monteiro, Sophie Baqué