Reported 6 months ago
Xiaohongshu, a Chinese app, has gained popularity among wealthy Gen Z women for lifestyle and beauty content, with influencers like Teresa Cheung driving high sales through live streams. Founded in 2013, the app has defied government crackdowns and achieved a $20 billion valuation with investments from Alibaba and Tencent. With 300 million monthly users, Xiaohongshu's success lies in content seeding by KOLs and personalized recommendations, attracting young female professionals and luxury brands. Despite challenges in the competitive e-commerce space and delayed IPO plans, the app's unique offerings and user loyalty position it well for continued growth.
Source: YAHOO