Dewu App Launches Rental Service on July 28, 2026, Covering Over 100 Categories

On July 28, 2026, Dewu App officially launched its "rental" service, initially covering more than 100 product categories including digital products, gaming equipment, mobile phones and computers, apparel accessories, luxury bags, and watches. The platform simultaneously introduced deposit-free rental and credit-based relief mechanisms.

LVMH, the world's largest luxury goods group, reported its first-half 2026 financial results with total revenue of 38.644 billion euros, a 3% decline on a reported basis year-on-year. The fashion and leather goods division, which accounts for nearly 47% of group revenue, saw a 5% decline in the first half on a reported basis. In the core Asian market, which includes China, second-quarter growth slowed to 4% from 7% in the first quarter. Kering reported 2025 revenue of 14.675 billion euros, down 13% year-on-year. In the first quarter of 2026, core brand Gucci's revenue fell 14%, marking the 11th consecutive quarter of decline. The global luxury consumer base shrank from 400 million in 2022 to 340 million in 2025.

China's personal luxury market saw sales decline by 3% to 5% year-on-year in 2025, narrowing from a 17% to 19% drop in 2024.

Dewu was valued at 71 billion yuan in 2024 when it was included in the Hurun Global Unicorn List. At its 2026 all-hands meeting, the platform reported double-digit business growth over the past year, with merchant onboarding increasing by over 60% and online authentication users growing by 184%. The user base surpassed 600 million, with 50% penetration among the under-30 demographic. As of March 2026, cumulative complaints about Dewu on the Black Cat Complaints platform had exceeded 280,000.

Dewu started with trading in sneakers and trendy items. The "Poison App" launched in 2015, initially as a sneaker authentication and information exchange platform incubated by Hupu. It enabled in-platform trading in 2017, became independent from Hupu in 2018, and was renamed Dewu in 2020. In 2021, its GMV exceeded 80 billion yuan. Dewu had previously established a second-hand trading platform, "95 Points," mainly selling high-value second-hand items such as apparel and sneakers. At the 2026 all-hands meeting, founder Yang Bing defined the company's next decade as helping users make optimal decisions, with increased investment in "emotional consumption" and "non-standard service" sectors.