Southeast Asian e-commerce giant Shopee will close its Polish operations and withdraw from the European market

January 13 news, according to foreign media reports, with the increasing macroeconomic uncertainty, Singapore Donghai Group's Southeast Asian e-commerce giant Shopee is about to withdraw from Poland and withdraw from the European market.

It is reported that Shopee has about 200 employees in Poland. The company will close its Polish operations on January 13, Chief Executive Feng Yingyi said. After withdrawing from France and Spain in September, the closure of the Polish business would mean a full withdrawal of Shopee from the European market.

In 2022, Shopee continued to cut costs, such as adjusting transaction-related fees such as commission, payroll and postage rates in Southeast Asian markets. In March last year, Shopee withdrew completely from the Indian market; in Latin America, it withdrew completely from Argentina and closed most of its operations in Chile, Colombia and Mexico, but continued to operate cross-border e-commerce services. But Brazil remains the most important market for Shopee in the region.

"given the current increased macroeconomic uncertainty, the company needs to focus its resources on its core business and decided to focus on cross-border operations in Mexico, Colombia and Chile," Feng Jun, chief executive of Shopee, said in an internal email.