Shein shifts Australian ops to Singapore amid tax scrutiny
Shein has quietly restructured its Australian arm, shifting control of its local marketplace to a new Singapore-based entity called Wonderflow Support.
As Carrie LaFrenz reports in the Australian Financial Review, the move, part of a broader internal shake-up, has sparked fresh speculation over whether the fast fashion juggernaut is eyeing tax advantages.
From April 30, Wonderflow became the official operator of Shein’s Aussie site and app, taking over responsibility for third-party sellers and transactions.
Hermès sales soar as luxury shoppers shrug off the squeeze
While most retailers are sweating through the cost-of-living crunch, Hermès is gliding along like it’s still 2019.
The French luxury powerhouse just posted Australian sales of $578.1 million for 2024, up a hefty 21 per cent year-on-year, with profits holding steady at $104.5 million, even after swallowing an extra $95 million in business costs.
As Eli Greenblat writes in The Australian, the cult of the “purchase history” lives on, with loyal fans lining up to spend big in the hopes of unlocking a quota bag down the line.
