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Low-cost E-commerce Rivals Shein and Temu Shelve US Court Cases

A model presents a creation by Indonesian fashion brand Artkea Stripes x IKYK during the Jakarta Fashion Week 2024 in Jakarta, Indonesia, 26 October 2023. The fashion event runs from 23 to 29 October 2023. EPA/ADI WEDA
A model presents a creation by Indonesian fashion brand Artkea Stripes x IKYK during the Jakarta Fashion Week 2024 in Jakarta, Indonesia, 26 October 2023. The fashion event runs from 23 to 29 October 2023. EPA/ADI WEDA
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Low-cost E-commerce Rivals Shein and Temu Shelve US Court Cases

A model presents a creation by Indonesian fashion brand Artkea Stripes x IKYK during the Jakarta Fashion Week 2024 in Jakarta, Indonesia, 26 October 2023. The fashion event runs from 23 to 29 October 2023. EPA/ADI WEDA
A model presents a creation by Indonesian fashion brand Artkea Stripes x IKYK during the Jakarta Fashion Week 2024 in Jakarta, Indonesia, 26 October 2023. The fashion event runs from 23 to 29 October 2023. EPA/ADI WEDA

Fierce rivals Shein and PDD Holdings-owned Temu have applied to end their legal fights with each other in the US, documents show, marking a truce even as a global market share battle between the low-price online platforms heats up.
Joint declarations were filed to courts in Chicago and Boston by lawyers representing the companies and their subsidiaries, requesting that two legal cases be dismissed "without prejudice" by their judges, Reuters reported.
The filings did not contain details on why they had decided to drop their complaints or whether any settlement had been made. Neither firm immediately responded to a request for comment on the filings on Friday.
Shein's lawsuit against Temu, filed last December in the US District Court for the Northern District of Illinois, alleged that Temu told social media influencers to make disparaging remarks about the fast-fashion retailer, and tricked customers into downloading the Temu app using "imposter" social media accounts.
In July, Temu filed its own lawsuit in Boston federal court, accusing Shein of violating US antitrust law in its dealings with clothing manufacturers.
Temu's complaint alleged Shein "forces manufacturers to sign loyalty oaths certifying that they will not do business with Temu."
In previous statements, both firms denied any wrongdoing in the cases.
The two companies have shaken up the global retailing landscape with an ultra-fast fashion, low-price shopping model.
Shein, founded in China, and valued at $66 billion, sells fast fashion at rock bottom prices, including dresses priced at $10 and bike shorts for around $5. The company produces clothing, mainly in China, that is sold online in the US, Europe and Asia.
Temu, whose parent company PDD Holdings also owns Chinese shopping platform Pinduoduo, similarly sells low-priced clothing but is equally well known for stocking cheap headphones and home appliances.
According to a note from HSBC analysts published this week, Temu is targeting $16 billion in gross merchandising volume (GMV) in 2023, versus consensus estimates of $11 billion.
 

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Fashion

Saudi Fashion Commission Issues Research Paper on 'Fashion Week Economics'

The Saudi Fashion Commission logo
The Saudi Fashion Commission logo
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Saudi Fashion Commission Issues Research Paper on 'Fashion Week Economics'

The Saudi Fashion Commission logo
The Saudi Fashion Commission logo

The Saudi Fashion Commission has issued its research paper for the fourth quarter of 2025, titled Fashion Week Economics, as part of its continued commitment to providing leading sector insights through the Fashion Futures platform.

The paper presents an in-depth analysis of Riyadh Fashion Week's contribution to local economic growth and explores the role of global fashion weeks in the global economy.

It highlights how Riyadh Fashion Week reflects the Kingdom's cultural and creative development, marking the beginning of a new era for Saudi creative industries, one driven by cultural confidence and economic ambition, through a dynamic integration of creativity, commerce, and culture aligned with the vision of a thriving creative economy.

The research also examines themes including the economic and cultural value of fashion weeks worldwide, the role of fashion-week events as global economic drivers, and case studies of various brands showcased at Riyadh Fashion Week 2025.

Through publishing this paper, the Fashion Commission continues to provide essential economic data and sector insights into the rapidly evolving fashion industry.

Riyadh Fashion Week targets designers, brands, creative talent, buyers, retailers, sponsors, and partners, serving as a central platform for opportunities across the market. Its rapid expansion across three editions, featuring more than 100 participating brands and attracting approximately 27,000 visitors, has delivered significant value in terms of media presence, relationship building, and business growth for participants.

The participation of major global fashion houses such as Vivienne Westwood and Stella McCartney in the third edition further reflects Riyadh’s growing influence in international luxury circles and its increasing global standing.

Fashion

Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh
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Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh

The Fashion Commission announced the launch of the first Executive Master’s program to be delivered in Riyadh, developed in collaboration with the world-renowned Institut Français de la Mode (IFM).

The new program marks a significant leap in advancing fashion education and executive training within the Kingdom, according to SPA.

The Executive Master’s in Strategic Management of Fashion & Luxury represents a new milestone in fashion education, taking place in Riyadh for the first time. It is a 15-month hybrid executive master’s degree track designed for high-potential professionals seeking advanced executive training while continuing their careers. Delivered through a blend of in-person modules in Riyadh and Paris, alongside supervised online learning, the program equips participants with strategic, managerial, and analytical expertise tailored to the rapidly evolving fashion and luxury sector.

Designed with market needs in mind, the executive master’s curriculum covers creation and design, brand strategies, sustainability, new consumer behaviors, retail innovation, fashion media, collection management, and future industry perspectives. Participants will also complete a thesis that contributes new knowledge to the regional and global fashion landscape.

The program is taught by IFM’s internationally recognized faculty, experts in fashion history, sustainability, consumer behavior, design, and luxury management, alongside industry leaders from major global houses, fashion federations, media groups, and innovation-driven organizations.

This landmark program builds on the Fashion Commission’s ongoing partnership with IFM since June 2022. Within the first year, the collaboration introduced high-level educational initiatives, including the Advanced Management Program for Luxury Fashion and the Executive Master’s in Luxury Fashion, designed to elevate local talent and strengthen the Kingdom’s creative workforce.

These programs have contributed to developing the skills and knowledge required to support a world-class fashion ecosystem.

The launch of the Executive Master’s marks a pivotal step in establishing Riyadh as an education hub for the fashion and luxury sectors. By bringing a master’s qualification of this caliber directly to the Kingdom, the Fashion Commission reinforces its commitment to enabling professional growth, supporting innovation, and creating globally competitive talent pipelines.

Fashion

Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
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Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)

Nike shares rose 5% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Cook, who has been on Nike's board since 2005, bought 50,000 shares at $58.97 ‌each, according to ‌a regulatory filing. As of December ‌22, ⁠he holds about ‌105,000 shares, which is now worth nearly $6 million.

It was the largest open market stock purchase for a Nike director or executive and possibly the largest in more than a decade, said Jonathan Komp, analyst at Baird Equity Research.

"(We see) Cook's move as a positive signal for the progress under CEO Elliott Hill and Nike's 'Win ⁠Now' actions," Komp said.

The purchase comes days after Nike reported weaker quarterly margins and weak ‌sales in China even as CEO ‍Hill tries to revive demand ‍through fresh marketing plans and innovation focused on running and sports, ‍while phasing out lagging lifestyle brands.

He has also attempted to mend Nike's ties with wholesalers such as Dicks Sporting Goods to increase visibility among shoppers amid stiff competition from newer brands.

However, the strategy has strained Nike's margins, which have been declining for over a year, while its efforts to win back its ⁠premier position in discount-friendly China appears to be faltering.

Nike's shares have slumped nearly 13% since it reported results on December 18 and are on track for the fourth straight year of declines. They were trading at $60.19 on Wednesday.

Cook has been a lead independent director of Nike since 2016 when co-founder Phil Knight stepped down as its chairman.

The Apple CEO "remains extremely close" with Knight, Komp said, adding that he has advised Nike through key strategic decisions including Hill's appointment last year.

Board director and former Intel CEO ‌Robert Swan also bought about 8,700 shares for about $500,000 this week.