Big news! Cross-border platform Tophatter announces official closure to Chinese sellers

It is learned that on June 2, the US flash e-commerce platform Tophatter sent a notice to sellers, saying that in view of the changes in the US consumer market and the overall transformation of the platform model, the platform will be officially closed to Chinese sellers. Products of Chinese sellers who have settled in the store will no longer be displayed, and subsequent products on the shelves will no longer receive orders.

In addition, for seller accounts that are operating normally before closure, Tophatter will gradually disburse the remaining order amounts in accordance with normal loan cycles and policies. The seller's account will also be retained for at least 90 days. During this period, the seller can log in to the backend as usual to manage order shipments, check account loan information, etc.

It is learned that Tophatter is a new mobile auction shopping e-commerce platform established in 2012, with 20 million active users and an average of 150,000 orders per day. Its hot-selling categories include jewelry, home furnishings, electronics, clothing, and beauty products. In October last year, Tophatter also announced the completion of a US$27 million Series C financing.

According to official sources, the main reason for Tophatter's withdrawal from China is that the US economic situation is not optimistic and the company is seeking to shrink its overseas front. Next, the Tophatter platform will further optimize costs and return to the US domestic market.

There were signs that Tophatter would withdraw from China, but we didn’t expect it to happen so soon. On May 26, Tophatter said that due to changes in the platform’s strategy, the combined order project will stop marking combined orders on Friday, May 27. The project will be officially suspended on Wednesday, June 1, 2022. Please send your future orders offline to the logistics provider.

Editor✎ Ashley/

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