独家丨抖音增速TOP1美妆TP商破产！

Core Insights - Shanghai Yiduo Network Technology Co., Ltd. (Yiduo E-commerce) has entered bankruptcy liquidation, highlighting the financial struggles within the beauty TP (Taobao Partner) industry despite previous rapid growth [1][19][27] - The company, founded in 2014, was once a leading service provider in the beauty sector, but has faced significant operational and financial challenges, including employee salary arrears and multiple legal disputes [2][10][13] Company Overview - Yiduo E-commerce was established in 2014 with a registered capital of 7.6151 million yuan, focusing on providing comprehensive solutions for health brands, including marketing and supply chain services [2][19] - The company gained recognition in the beauty industry, ranking first in the personal care and household cleaning sector on Douyin's service provider list in May-June 2023 [1][7] Financial Struggles - Reports indicate that Yiduo E-commerce has been unable to pay salaries, with a total of 610,307.45 yuan owed to 36 employees, leading to a bankruptcy application by a former employee [13][16] - The company has faced multiple legal actions due to unpaid debts, including a 5 million yuan loan from a bank that remains largely unpaid [13][19] Industry Context - The rapid decline of Yiduo E-commerce from a top performer to bankruptcy within 19 months reflects broader challenges in the beauty TP industry, characterized by high costs and low profit margins [22][27] - The industry is undergoing significant transformation, with many companies facing revenue declines and operational pressures, while a few are managing to grow by diversifying their offerings and enhancing brand capabilities [26][27] Market Dynamics - The beauty TP sector is experiencing a deep reshuffle, with many firms, including well-known operators, facing similar financial difficulties, indicating a systemic issue within the industry [26][27] - The reliance on high GMV (Gross Merchandise Volume) as a success metric has been criticized, as it does not necessarily correlate with sustainable profitability [22][27]