Temu Doubles EU Profits To Nearly $120M With Just Eight Employees
6 Articles
6 Articles
Dublin-based Whaleco Technology, the European subsidiary of Chinese online marketplace Temu, nearly tripled its pre-tax profit to $120 million in 2024, while employing just eight people. The company’s revenue grew to $1.7 billion, thanks to its ultra-cheap products heavily promoted on social media and rapidly growing interest from European consumers. Temu now has more than 115 million customers in EU markets, a quarter of the EU’s population. De…
Temu Doubles EU Profits To Nearly $120M With Just Eight Employees
How does a company make nearly $120 million in profit with only eight employees? That’s the question raising eyebrows across Europe. New filings revealed Chinese e-commerce giant Temu more than doubled its EU profits in 2024 — all while paying just $18 million in corporation tax.Temu’s Ireland-based parent, Whaleco Technology, reported revenues of $1.7 billion, a 171% jump from the previous year. Bargain-hunters flooded its platform for ultra-ch…
Temu Doubles EU Profit to $120M With Only Eight Employees
More than 91% of parcels came from China, where Temu and its other low-cost retailers, such as Shein, manufacture and ship most of their products. However, the EU put stricter controls in July 2025, and customs duties are expected to be applied from 2028. The Chinese online e-commerce platform Temu doubled its pre-tax profits in its EU operations, reaching $120 million, despite having just eight employees, according to its financial statement. T…
The Chinese online trading platform doubled profits in the European Union in 2024. Already revenue has risen to $1.7 billion (1.4 billion)
Chinese platform Temu has seen its profits skyrocket in the European Union, reaching nearly $120 million in 2024 with just eight employees. Despite the huge sales, the company paid just $18 million in taxes, sparking criticism of tax avoidance and pressure for tighter regulation in Europe.
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