Feel very sorry for anyone who bought in to the hype around this retail "re-seller"....
Their business model is fundamentally flawed and fails every check on the five forces model:
- high buyer power (i.e. buyers have plenty of options to go elsewhere)
- high supplier power (i.e. the suppliers have plenty of options to supply elsewhere)
- Low barriers to entry (i.e. anyone can set up a daigou shop - and plenty have)
- High number of substitute products (theres a daigou shop on every corner of every capital city)
- High levels of competition (see above - literally hundreds of other daigou shops)
Haven't read their latest report, but I am assuming they still haven't posted a profit and are likely still bleeding cash?
AU8 disgustingly and publically celebrating their massive insider P&D success, page-7
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