Pinduoduo officially announces the "New Pinduom" plan: launching brand self-operation, with an initial investment of 15 billion yuan.

Pinduoduo Group officially announced the formation of “New Pimp.” Over the next three years, it will invest 100 billion yuan in cash, launch brand-operated retail, and continue to heavily invest in China’s supply chain to drive high-quality and brand-focused development of domestic industries. At present, “New Pimp” has already established a new specialized company in Shanghai, and the first phase has received a cash capital injection of 15 billion yuan. This move means that Pinduoduo’s cross-border business has begun entering a brand-centered new stage. Building on the platform-based operations of the Temu platform to date, “New Pimp” will, through deep involvement in China’s supply chain, incubate Chinese brands with international influence. (Sina Technology)