Economy
SHEIN's European Revenue Drops Due to New EU Package Levy
Chinese online retailer SHEIN reported a 13.9% decline in European revenue for the second quarter, falling to nearly $3.8 billion (€3.3 billion) compared to the same period last year. The company attributed the drop to price increases that reduced sales volumes and a strategic cutback in online advertising spending. This reduction anticipates new EU regulations effective July 1, which eliminate the duty-free exemption for small packages valued under €150, imposing a €3 import tariff. While global revenues rose by approximately 1% to over $11 billion, the European dip reflects efforts to adapt to stricter rules aimed at creating fairer competition and improving product safety controls. Consequently, Dutch customs have observed significantly fewer individual packages arriving from China, with retailers likely shifting to bulk imports from European distribution centers.
Ozetta summarises; the reporting is the newsroom's