Latest news with #Temu
Forbes
6 hours ago
- Business
- Forbes
The End Of The Cheap Everything Era
Temu and Shein take the early brunt of de-globalization policies In the fast-paced world of e-commerce, few brands have captured consumer attention as swiftly as Shein and Temu. Their meteoric rise has disrupted traditional retail, threatening Amazon's (NASDAQ: AMZN) dominance of the market by offering ultra-affordable products that seem to materialize instantly on consumers' doorsteps. And though some of what these companies offer is of questionable value — bizarre, often unnecessary items that address needs or desires the consumer didn't even know they had — the prices are low enough to make them nearly impossible to resist. In the United States, those prices were made possible in part by the de minimis exemption, which allows small parcels to enter the country duty-free. But as regulatory and geopolitical headwinds intensify, the question now looms: has the Chinese export machine finally reached its limits? LONDON, ENGLAND - FEBRUARY 20: In this photo illustration, the Temu logo is displayed on a laptop ... More screen alongside the Shein logo on a mobile device on February 20, 2025 in London, England. U.S. President Donald Trump's trade tariffs have affected two of the biggest Chinese-owned ecommerce platforms in the U.S. as Shein and Temu have had to withdraw some products from sale and raise prices. Shein has seen daily sales fall by up to 41% and considered cutting its valuation for a London IPO by nearly 25%. (Photo Illustration by) In the last few years, Shein and Temu harnessed the power of algorithms, social media marketing, and a relentless focus on affordability to capture the attention — and wallets — of consumers around the world. Shein ascended rapidly, becoming the top e-commerce fashion retailer in many Western markets, with a business model rooted in rapid trend analysis and turnover, as well as on-demand manufacturing. Shein spawned a whole new language of 'real-time fashion,' 'hunger marketing,' 'micro-influencers,' and 'hauls.' Temu, backed by the Chinese company PDD Holdings (NASDAQ: PDD), followed suit, leveraging its parent company's extensive supply chain to offer similar low-cost, factory-direct goods in more than 100 categories that cover everything from furniture to pet food to auto parts. This disruptive approach posed a direct threat to Amazon, which had long dominated the online retail market. Consumers, especially those with less discerning tastes and younger demographics, flocked to these new platforms for fashionable apparel and ultra-affordable goods. Quality and durability matter less when anything can be replaced for just a few dollars, with the added allure of constant novelty and the dopamine hit of an endless scroll through quirky, hyper-targeted deals. The de minimis tariff exemption was an existential pillar of Shein and Temu's business model, as it enabled them to keep prices razor-thin while maintaining incredibly quick turnaround times without the need for warehouses or inventory in the U.S. But this model was always vulnerable to policy shifts. The Trump administration's move in April 2025 to eliminate the de minimis exemption marked a turning point, significantly increasing import costs for small parcels, which in turn impacted consumer prices and purchase behaviors. The prohibition will be extended to all countries starting on July 1, 2027, as part of the so-called 'Big Beautiful Bill' that Trump recently signed into law. The consequences are already stark. CNBC reports that Temu has halted direct shipments from China to the U.S., citing the end of the de minimis exemption as a key factor. Temu's sales plummeted 48% in May, while Shein's sales in the U.S. were down by 23%. Shein's U.S. app download ranking went from #7 to #80, and Temu dropped from #3 to #85, according to recent data. MILAN, ITALY - APRIL 17: Customers visit the SHEIN's 'Spring Boutique' temporary store at Palazzo ... More dei Giureconsulti on March 23, 2024 in Milan, Italy. SHEIN, a Chinese e-commerce platform specialized in ultra fast fashion, frequently holds temporary "pop-up" stores to allow customers to experience their products in person and to interact with the brand offline. (Photo by) In response to the limitations in the U.S., Shein and Temu have pivoted toward Europe and other emerging markets, as Shein ramped up digital advertising in Europe by over 70% in early May, seeking to offset the decline in the American market. Temu's sales in the E.U. soared by 63% in May while Shein's were up by 19%, according to data from Sensor Tower. However, the campaigns faced strong opposition from environmental groups and labor-rights activists. In France, when Shein launched a 'fashion is a right' campaign, its social justice messages were countered with satirical comments that highlighted the ecological harm caused by the rampant consumerism. European regulators are increasingly scrutinizing ultra-fast fashion and small parcel imports, threatening to introduce and enforce tighter restrictions. The European Commission's proposed flat tax on parcels under 150 euros, along with ongoing debates about advertising restrictions, underscored the regulatory tightening. Meanwhile, France's Senate has approved a protectionist law that would target 'ultra' fast fashion (read Shein), while exempting 'classic' fast-fashion players, such as European Zara, and struggling French brands, including Jennyfer and Nafnaf, which are already in bankruptcy. Faced with mounting regulatory and consumer challenges, Shein and Temu are exploring various avenues for reinvention. Shein is investing in sustainability initiatives, shifting part of its supplier base to India, and attempting to improve its supply chain transparency. Meanwhile, both companies are experimenting with different marketing approaches, including collaborations with local influencers and targeted ad campaigns designed to appeal to European consumers' growing environmental and social justice consciousness. Temu is investing in localizing its supply chain in the U.S. to reduce the tariff bite, while Shein may believe that its inherent price and responsiveness advantages will allow it to reemerge on top once competitors burn through their stockpiles of imported apparel. Both companies are targeting emerging markets such as Brazil, where Shein has cranked up ad spending by 130% while Temu increased its spend by 800%. Markets outside of the U.S. now make up 90% of Temu's 405 million monthly active users, according to an HSBC report. The end of the de minimis exemption signals a broader reckoning for the Chinese export machine's low-cost, high-volume model. As tariffs rise and regulations tighten, the economics of hyperspeed, ultra-cheap, factory-direct models they pioneered are under threat. That said, it would be a mistake to underestimate the ingenuity of these two companies, which have transformed the retail landscape, or the insatiable desire of American consumers for really cheap stuff. Middle-class consumers in emerging markets, with less entrenched domestic brands and manufacturing to protect, may welcome the chance to splurge on abundant, shiny things. As they pivot to new markets and attempt to reinvent themselves, the broader question remains: Is the era of Western consumers 'shopping like billionaires' coming to an end? The coming months will be crucial in determining whether these brands can sustain their growth or become relics of a bygone trend of cheap, disposable goods.
Scottish Sun
11 hours ago
- Entertainment
- Scottish Sun
I asked ChatGPT how to jazz up my council house porch for under £100 – my budget privacy screen & Temu buys look fab
And Emily wasn't afraid to clap back to the user who wasn't keen on her colourful doormat PORCH PERFECT I asked ChatGPT how to jazz up my council house porch for under £100 – my budget privacy screen & Temu buys look fab Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A DIY enthusiast was desperate to jazz up her council house porch, but didn't know where to start. As a result, Emily Beatrice, a mum-of-five from the UK, asked ChatGPT for advice on how to add style to her space. Sign up for Scottish Sun newsletter Sign up 2 A savvy mum used ChatGPT to get inspiration on how to transform her porch without breaking the bank Credit: Tiktok/@emily__beatrice 2 Using bargains from Amazon and Temu, Emily Beatrice was able to give the front of her council house a mega makeover, whilst keeping the costs down Credit: Tiktok/@emily__beatrice Using bargain buys from Amazon and Temu, the photographer was able to totally transform the front of her home, without breaking the bank. In fact, the DIY makeover cost Emily less than £100 in total - yes, you heard that correctly. Posting on social media, the bargain hunter and interior lover shared a before and after look at her 'budget transformation.' She then explained: 'I asked ChatGPT how I could improve my council house porch for less than £100.' What was once a blue door with wellies and shoes all over the floor, has since been transformed into a stunning, as well as neat and tidy space. Emily was keen to 'make full use of space,' as she added: 'I wanted everything to have a place and a bit more privacy. To carry out the makeover, step one involved Emily sanding her front door. Following this, she then filled in any dents and added a primer. Once this was done, she added a black trim and gave the door a fresh lick of paint using Frenchic in the shade Wise Old Sage Al Fresco. She even painted her floor a bright blue colour too. I didn't want to fork out hundreds for a new front door but a 99p Shein buy & a lick of paint worked wonders To finish off the space she added shoe racks, a privacy screen to the window of her front door, and a gorgeous wreath for added style. Emily confirmed that she bought her privacy film from Temu and nabbed a pack of two wall welly boot racks from Amazon for just £15. Looks so much more inviting now! Emily Beatrice Not only this, but she also revealed that she is 'tempted' to add a light to the space too. Emily confirmed that it cost her less than £100 in total for the DIY project, which included the cost of paint, brushes and primer. Rules on transforming your council house According to Gov, the kind of improvements you can make to your council property depends on the type of tenancy you have. Introductory tenants are usually limited to minor improvements like redecorating inside. If you're a secure tenant, you have the right to carry out improvements to your property. These include: installing a new bathroom or kitchen building an extension putting up a garden shed or greenhouse installing a new gas fire or fireplace cavity wall insulation redecorating the outside of a house fitting an aerial or satellite dish You might need your council's written permission for work you do. Contact your council if you're not sure. She acknowledged that she has 'plenty left for other projects' and already owned a sander, which cost her £50 in the Homebase sale. Showing off the final result, she beamed: 'Looks so much more inviting now!' DIY fans beam The TikTok clip, which was posted under the username @emily__beatrice, has clearly left many open-mouthed, as it has quickly racked up 133,400 views in just 13 hours. Not only this, but it's also amassed 6,050 likes, 122 comments and 235 saves. This actually looks so cute! TikTok user Social media users were impressed with Emily's mega makeover and eagerly rushed to the comments to express this. One person said: 'Love it, what a glow up.' Another added: 'Wooooooow.' Eight Easy DIY Tips & Tricks The ultimate guide for homeowners and renters: DIY expert's lazy painting hack will make decorating your home much easier Save time and money with this easy DIY tiling hack to transform a room in under an hour Avoid these five mistakes in your next DIY project Transform your kitchen with this renter-friendly DIY hack Noisy neighbours? Here's how to soundproof a room DIY expert shared her favourite strategy for painting around glass without tape If you want to give your kitchen a fresh look, here's how to paint your kitchen cabinets Five tricks to spruce up every room in your home for less than £5 A third commented: 'Looks lovely…I love ChatGPT.' Meanwhile, someone else beamed: 'Looks amazing!! Well done you.' Whilst another DIY fan chimed in and wrote: 'This actually looks so cute!!!' However, at the same time, one user advised: 'Black rug would have been smarter.' But to this, Emily responded and confirmed: 'True, it would be smarter!! But I was going for chaotic main character energy, 'WELCOME to my colourful home!' Black just says 'hi, I'm a rug!'' Unlock even more award-winning articles as The Sun launches brand new membership programme - Sun Club
Korea Herald
17 hours ago
- Business
- Korea Herald
Officals warn of rise in fake 'Made in Korea' labels
A record wave of low-cost clothing from China is pouring into South Korea, and much of it is being illegally disguised as Korean-made. Last year, South Korea imported more Chinese apparel than ever before. According to the Korea Customs Service, the country brought in $4.83 billion worth of clothing from China, up 50 percent from 2020. With the rise in volume, the authorities are seeing a surge in a deceptive practice known in Korea as "label switching." Imported garments arrive with tags that say "Made in China," but these are often swapped out before reaching the customer. Korean sellers repackage the items to appear as if they were produced in South Korea. In some cases, they even change the shipping invoices and boxes. Korean customs officials report that in the first half of 2025, they seized 3.1 million illegally distributed goods. More than half (1.7 million) were flagged for missing or false country-of-origin labels. Most of these were Chinese clothes disguised as Korean products. Korean sellers often buy these clothes for under $2 on platforms like Temu or AliExpress, then resell them on other e-commerce platforms or social media at 10 times the price. Many are advertised with vague claims like "luxury local fabric." This comes as Chinese fast-fashion giant Shein sees a sharp rise in sales here. According to Mobile Index, a data service operated by South Korea-based IGAWorks, Shein's monthly active users in the country hit 1.75 million in June. This is almost four times higher than in January. It now ranks sixth among fashion shopping apps in Korea, up from 11th last year. Another analytics firm, WiseApp Retail, reports that Shein passed 2.2 million Korean users for the first time, the highest ever recorded.
New York Post
a day ago
- Entertainment
- New York Post
I hate the engagement ring my fiancé spent months designing — people say I'm a horrible person
Diamonds are a girl's best friend — but this bride-to-be can't stand her new bestie. After saying 'Yes' to her fiancé's request for her hand in marriage, a woeful woman is saying 'No' to the diamond ring that he spent months designing before 'blindsiding' her with the round-cut rock. Now, sickened social media scolders are wagging their fingers at the gal, deeming her a 'horrible person,' 'toxic' and a 'walking red flag' for giving off ungrateful vibes. 5 Facebook vultures are viciously swooping down on a woman who claims to 'hate' the engagement ring that her fiance secretly spent three months designing. Prostock-studio – 'Help — I hate my ring,' the unidentified future bride whined on Facebook. 'My fiancé blindsided me with a proposal. I am so grateful for the gesture, but I hate the ring.' 'I thought it would grow on me. I gave it a week. I get sad every time I look at it. It's so not me,' she continued, sharing two snapshots of the jaw-dropping jewel. 'The round shape, halo, the pave band. I would've chosen the total opposite.' The bellyacher's disdain for the diamond aside, she was even more bothered that her betrothed didn't bother to find out her preferred ring requirements. 5 Online, the anonymous lady said her ring does not match her personal style, and wished her groom-to-be would have got a second opinion before 'blindsiding' her with the proposal. Weird Secondhand Finds / Facebook 'It's upsetting me that he never asked me or my friends what kind of ring I like,' the woman wrote in her virtual grievance. 'I changed my nail shape from square to accommodate the design, thinking if I have round nails, I'll like a round ring more. Didn't work.' 'What now? Should I suffer in silence?,' posed the hapless honey. 'I pretend being happy every time he mentions how 'beautiful' the ring is. I'm scared he'll get very offended if I bring it up. He said he spent 3 months designing the ring.' 'Any advice is welcome.' However, rather than shower her with words of wisdom and support, digital bloodhounds chewed her out for the unappreciative speak. 5 The desperate bride-to-be begged social media users for 'help' after revealing her disdain for the ring. Andrii – But the fussy fiancée isn't alone when it comes to detesting her stone. In fact, a staggering 17% of newly engaged girls describe themselves as only 'somewhat happy' with their rings, while an eye-popping 7% say they were totally 'not happy' with their bling, according to a July study via luxury jewelers, ModernGents. Some loops of love — such as a recently viral monstrosity deemed the 'chastity belt' ring — are simply unsightly. Others, like the $38 Temu ring another unhappy camper received from her soon-to-be hubby, who commands a $200,000 annual income, are embarrassingly cheap. 5 Researchers have found that 17% of woman are only mildly satisfied with their engagement rings, while a shocking 7% aren't at all happy with their finger finery. Antonioguillem – Still, cyber censurers argue that it's the thought, not the look or the cost, that counts. 'You're a horrible person,' spat a critic of the Facebook faultfinder. 'That man spent three months designing a ring and obviously spent a ton of money on it and wanted to surprise you completely.' 'Grow up,' the commenter continued. 'You should be wearing that ring with pride for what it represents not just because it doesn't fit your aesthetic.' Equally irked critics echoed similar sentiments. 5 Digital detractors on Facebook labeled the unnamed woman 'toxic' for failing to express her love and appreciation for the round-cut rock. Pixel-Shot – 'Maybe he can exchange it…The girlfriend, not the ring,' one joked. 'I would definitely recommend giving it back, and you can go live under a bridge alone,' suggested a separate troller. 'Definitely toxic,' another chimed, in part. 'Girl, you are a walking red flag. DON'T make him spend the rest of his life with you,' urged an outraged onlooker. 'NO one deserves that.'
The Advertiser
2 days ago
- The Advertiser
Veteran's disgust at fake war medals, sold readily on Temu and eBay
A Vietnam War veteran felt disgusted after discovering replica military medals, many of them almost identical to the originals, were being sold and were readily available to the public. Replicas of medals awarded to those who served are widely available through online retailers, including Temu and eBay, and at numerous museums and dealers throughout the country. The sale or purchase of military medals is legal in Australia, although it is illegal for a person to falsely represent themselves as a veteran by wearing medals in public. Read more from The Senior Greg Carter served 12 months in Vietnam with the 6th Battalion, Royal Australian Regiment. He has the full bar of medals that were received by all Vietnam veterans, as well as a Vietnam Combat Badge. He said he was disturbed by the knowledge that medals designed to honour those who served are available to the general public. "I, with others, had to earn that [right to wear medals] by being in a war zone," he said. 'To see other people who have not even done any military service wearing it, to me, it just diminishes the worth of the badge or the medal to start with. "Numerous veterans and [members of] the public I have talked with are disgusted this is happening." Mr Carter, of Portland in Victoria, first became aware that replica medals were being sold after finding a range of medals in the gift shop of a museum in Western Australia. "I said to the lady behind the counter, 'Can anybody buy these?' And she said, 'Yes, and I said, I don't think that's right'." A spokesperson from RSL Australia said there is nothing that can be done to stop retailers selling the medals. "Ideally, seeking proof of service or entitlement to medals would be sought," they said. It is not illegal to buy or sell replica military medals in Australia, although they must not be represented as the genuine article or use the Commonwealth Coat of Arms or other Defence emblems without authorisation. The Department of Defence encourages the purchase of replica medals by veterans whose originals were lost or stolen, or who want to preserve their originals. It is illegal for a person to wear military medals, or replicas of medals that were not conferred to them under the 1903 Defence Act. Wearing medals to represent a deceased relative is allowed, but medals should be worn on the right-hand side, as opposed to veterans, who wear their medals on the left. Mr Carter says he has contacted 22 different companies, all of whom were willing to sell him multiple medals without verifying who he was or why he wanted them. "My issue is the fact that the people who buy them probably have got no idea about what the medals firstly mean, and secondly, there's a protocol for wearing them." Mr Carter feels retailers should be forced to inform buyers of the laws and protocols surrounding the wearing of replica medals. Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE. A Vietnam War veteran felt disgusted after discovering replica military medals, many of them almost identical to the originals, were being sold and were readily available to the public. Replicas of medals awarded to those who served are widely available through online retailers, including Temu and eBay, and at numerous museums and dealers throughout the country. The sale or purchase of military medals is legal in Australia, although it is illegal for a person to falsely represent themselves as a veteran by wearing medals in public. Read more from The Senior Greg Carter served 12 months in Vietnam with the 6th Battalion, Royal Australian Regiment. He has the full bar of medals that were received by all Vietnam veterans, as well as a Vietnam Combat Badge. He said he was disturbed by the knowledge that medals designed to honour those who served are available to the general public. "I, with others, had to earn that [right to wear medals] by being in a war zone," he said. 'To see other people who have not even done any military service wearing it, to me, it just diminishes the worth of the badge or the medal to start with. "Numerous veterans and [members of] the public I have talked with are disgusted this is happening." Mr Carter, of Portland in Victoria, first became aware that replica medals were being sold after finding a range of medals in the gift shop of a museum in Western Australia. "I said to the lady behind the counter, 'Can anybody buy these?' And she said, 'Yes, and I said, I don't think that's right'." A spokesperson from RSL Australia said there is nothing that can be done to stop retailers selling the medals. "Ideally, seeking proof of service or entitlement to medals would be sought," they said. It is not illegal to buy or sell replica military medals in Australia, although they must not be represented as the genuine article or use the Commonwealth Coat of Arms or other Defence emblems without authorisation. The Department of Defence encourages the purchase of replica medals by veterans whose originals were lost or stolen, or who want to preserve their originals. It is illegal for a person to wear military medals, or replicas of medals that were not conferred to them under the 1903 Defence Act. Wearing medals to represent a deceased relative is allowed, but medals should be worn on the right-hand side, as opposed to veterans, who wear their medals on the left. Mr Carter says he has contacted 22 different companies, all of whom were willing to sell him multiple medals without verifying who he was or why he wanted them. "My issue is the fact that the people who buy them probably have got no idea about what the medals firstly mean, and secondly, there's a protocol for wearing them." Mr Carter feels retailers should be forced to inform buyers of the laws and protocols surrounding the wearing of replica medals. Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE. A Vietnam War veteran felt disgusted after discovering replica military medals, many of them almost identical to the originals, were being sold and were readily available to the public. Replicas of medals awarded to those who served are widely available through online retailers, including Temu and eBay, and at numerous museums and dealers throughout the country. The sale or purchase of military medals is legal in Australia, although it is illegal for a person to falsely represent themselves as a veteran by wearing medals in public. Read more from The Senior Greg Carter served 12 months in Vietnam with the 6th Battalion, Royal Australian Regiment. He has the full bar of medals that were received by all Vietnam veterans, as well as a Vietnam Combat Badge. He said he was disturbed by the knowledge that medals designed to honour those who served are available to the general public. "I, with others, had to earn that [right to wear medals] by being in a war zone," he said. 'To see other people who have not even done any military service wearing it, to me, it just diminishes the worth of the badge or the medal to start with. "Numerous veterans and [members of] the public I have talked with are disgusted this is happening." Mr Carter, of Portland in Victoria, first became aware that replica medals were being sold after finding a range of medals in the gift shop of a museum in Western Australia. "I said to the lady behind the counter, 'Can anybody buy these?' And she said, 'Yes, and I said, I don't think that's right'." A spokesperson from RSL Australia said there is nothing that can be done to stop retailers selling the medals. "Ideally, seeking proof of service or entitlement to medals would be sought," they said. It is not illegal to buy or sell replica military medals in Australia, although they must not be represented as the genuine article or use the Commonwealth Coat of Arms or other Defence emblems without authorisation. The Department of Defence encourages the purchase of replica medals by veterans whose originals were lost or stolen, or who want to preserve their originals. It is illegal for a person to wear military medals, or replicas of medals that were not conferred to them under the 1903 Defence Act. Wearing medals to represent a deceased relative is allowed, but medals should be worn on the right-hand side, as opposed to veterans, who wear their medals on the left. Mr Carter says he has contacted 22 different companies, all of whom were willing to sell him multiple medals without verifying who he was or why he wanted them. "My issue is the fact that the people who buy them probably have got no idea about what the medals firstly mean, and secondly, there's a protocol for wearing them." Mr Carter feels retailers should be forced to inform buyers of the laws and protocols surrounding the wearing of replica medals. Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE. A Vietnam War veteran felt disgusted after discovering replica military medals, many of them almost identical to the originals, were being sold and were readily available to the public. Replicas of medals awarded to those who served are widely available through online retailers, including Temu and eBay, and at numerous museums and dealers throughout the country. The sale or purchase of military medals is legal in Australia, although it is illegal for a person to falsely represent themselves as a veteran by wearing medals in public. Read more from The Senior Greg Carter served 12 months in Vietnam with the 6th Battalion, Royal Australian Regiment. He has the full bar of medals that were received by all Vietnam veterans, as well as a Vietnam Combat Badge. He said he was disturbed by the knowledge that medals designed to honour those who served are available to the general public. "I, with others, had to earn that [right to wear medals] by being in a war zone," he said. 'To see other people who have not even done any military service wearing it, to me, it just diminishes the worth of the badge or the medal to start with. "Numerous veterans and [members of] the public I have talked with are disgusted this is happening." Mr Carter, of Portland in Victoria, first became aware that replica medals were being sold after finding a range of medals in the gift shop of a museum in Western Australia. "I said to the lady behind the counter, 'Can anybody buy these?' And she said, 'Yes, and I said, I don't think that's right'." A spokesperson from RSL Australia said there is nothing that can be done to stop retailers selling the medals. "Ideally, seeking proof of service or entitlement to medals would be sought," they said. It is not illegal to buy or sell replica military medals in Australia, although they must not be represented as the genuine article or use the Commonwealth Coat of Arms or other Defence emblems without authorisation. The Department of Defence encourages the purchase of replica medals by veterans whose originals were lost or stolen, or who want to preserve their originals. It is illegal for a person to wear military medals, or replicas of medals that were not conferred to them under the 1903 Defence Act. Wearing medals to represent a deceased relative is allowed, but medals should be worn on the right-hand side, as opposed to veterans, who wear their medals on the left. Mr Carter says he has contacted 22 different companies, all of whom were willing to sell him multiple medals without verifying who he was or why he wanted them. "My issue is the fact that the people who buy them probably have got no idea about what the medals firstly mean, and secondly, there's a protocol for wearing them." Mr Carter feels retailers should be forced to inform buyers of the laws and protocols surrounding the wearing of replica medals. Share your thoughts in the comments below, or send a Letter to the Editor by CLICKING HERE.
