Gearbest is probably known to everyone who has ever bought goods from China. It was one of the most popular and at the same time the largest Chinese e-shops, at least that's how it was a few years ago. However, for the last three years, this business has rather stagnated and they are significantly ahead of it Banggood, Geekbuying, DHGate or TradingShenzhen.
At the beginning of 2021, Gearbest, once the most reliable reseller, was also spread negative news about the bad approach of customer support and especially the non-payment of its affiliate partners. Everything was sealed by turning off the site.
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Gearbest.com is now off
Following previous reports of major problems with Gearbest's parent company, Shenzhen Globalegrow E-Commerce Co., and their ongoing bankruptcy proceedings due to their inability to pay their debts, comes the complete shutdown of www.gearbest.com. You can't buy anything here from now and you won't see any product.
The Chinese giant tried to save by selling its other company Patox, which he sold in March to several companies, including Xiaomi, for 2,2 billion yuan. However, this was not enough for Globalegrow to avoid bankruptcy and save its Gearbest e-shop.
This company also owns other well - known fashion online stores such as Shein, Zaful and Rosegal, but they continue to work without problems.
Gearbest has been facing a really bad reputation lately, and their parent company has probably decided that it would be the best solution to close its long-running e-shop chapter.
Original article of 11 June 2021:
The company that owns Gearbest is facing bankruptcy
The platform is facing difficult times in the near future and its future is uncertain. Reports coming from China say its parent company, Shenzhen Globalegrow E-Commerce Co., is facing bankruptcy.
The case is already in court in Guandgong Province and is currently classified as a bankruptcy assessment. The applicant is Shenzhen Nanshan, a sub-brand of Chinese Industrial and Commercial Bank. Globalegrow, the owner of Gearbest, is mentioned as the defendant.
In 2018, Gearbest was the largest and most reliable Chinese e-shop. We also managed to visit them.
The company claims that it did not receive any legal documents from the court clerk in Shenzhen. She also added that she is actively communicating and negotiating with the bank's branch and at the same time working on obtaining new funds. He hopes that the dispute with the bank will be settled as soon as possible.
Already in March this year, the company sold its subsidiary Patoxun for 2,2 billion Chinese yuan with all its brands. It seems that this capital is still not enough. Brands such as Xiaomi, Shunwei, CDH, Quantum Yuedong, Xiyin International and others have become new investors for Patoxun.
Top representatives of the company have already resigned
Just a month after this sale, ZAFUL, another subsidiary of Globalegrow, also started operating independently. Xu Jiadong, the company's chairman and CEO, resigned in May. Allegedly for personal reasons.
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Together with the CEO, two members of the supervisory board - Li Jie and Zhou Chunyan - resigned. The head of the department called "Internal Audio", Wanf Xiaoyu, joined them. The departures of these other important people reveal that the director's resignation may not have been personal reasons at all, but rather the company's poor financial situation.
We have no idea how the whole case will turn out. An e-shop like Gearbest would be a shame and therefore we hope that Globalegrow will find the necessary funding. Don't forget to keep watching us. As soon as we know more about the situation, we will publish the information on our website.
I wish I could be disgusting, but I just wish them for the way they treated the customers, who dared to call themselves VIPs. That is how I ended up writing them in the last sentences of the reaction from many disputes with technical support. As they say, a lost customer is hard to get back to sleep. And I have a feeling that they didn't even care about it, it was enough to always find a couple of new ones, which they managed to paint and then cough up on them. Solve all problems by assigning loyalty points, which can be put on almost nothing in the offer of minutes, this is also Gearboxacke.
Too bad the eshop. It started well, but lately it's been a total disaster. Overpriced prices, weak technical support and a bunch of other things put this store on its knees.
The first info about the problems appeared a year ago, when they stopped paying commissions to people who bought through them
It's great news when I just shopped there recently. Goods paid and still not sent
So I don't know, but at the moment it doesn't look like the eshop should be turned off, since everything works normally. But I also had a problem with them lately, at least they returned my money because they were not able to send my goods
Other news also informed about the shutdown of the website, and the website does not work for us personally either.
Really great, 31 USD in G Wallet was returned to me for two months, so they probably finished.
Hello, can someone help me I bought an e-bike and a few days I learned about bankruptcy how can I get my money back?
we also bought e-bikes, one came with a broken flashlight, which is actually non-functional and we have not been able to contact them for 3 months
Gearbest is coming again. New to Gearbest
Interestingly, but the store and the apka work again. You can even sign up with a flood account. Is there anything new in this matter?