Daigou margins are back up to 2019 levels and stage 1 Chinese cross border sales look to have bottomed, and are heading back up, at the same time... what does that say?
They will follow the margin, increased global mobility post COVID will provide a tailwind to recovery, part of the reason why past management's decision to flood the Chinese market (leading to an oversupply and crash in the Daigou margins) hoping for increased sales was nonsensical in my view.
All my personal views and DYOR.
Daigou margins are back up to 2019 levels and stage 1 Chinese...
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