Just as Aliexpress, Banggood or Wish are synonymous with sites to buy online in China, GearBest has also been one of the reference pages in that market.
However, after years of slow and painful decline, Everything indicates that GearBest has closed its virtual doors.
Indeed, your internet address, gearbest.com, has been disabled for almost a week and the information from eastern portals speak of a bankruptcy inevitable.
On social media, there are also clues to its collapse: GrearBest on Twitter has not moved since the beginning of 2020 and on Facebook no one has posted anything since mid-2021.
In June this year, Shenzhen Globalegrow eCommerce, the company behind GearBest, filed a series of documents in the courthouse of Guadong province, China, to advance a liquidation process.
Although this does not mean the bankruptcy of the company, the opening of that instance, now added to the closure of the site, allows to speculate that the end is very near.
GearBest was one of the companies preferred by European users to buy phones and other products on the Internet from China, since it had warehouses in several countries in the region, which guaranteed reasonable delivery times. It was one of the alternatives to Aliexpress and even Amazon, because it met deadlines and had better prices.
Its use was less in Latin American countries, such as Brazil, Argentina, Colombia and Mexico.
However, for several weeks (if not months), the company was having some problems with the return of products and with the refunds of purchases, one of the first symptoms that indicate that things are not going well in a platform of purchase by Internet.
The Chinese company had a workforce of more than 3,100 employees around the world.
Shenzhen Globalegrow eCommerce has seen its share price fall for a long time, with millionaire economic losses, especially in recent months.
Born in 2014, GearBest in just four years became one of the most relevant companies of Chinese origin due to its influence on the global ecommerce market. In fact, it has been positioned alongside giants such as Xiaomi, ZTE or JD.
It had a makeover and marketing revamp in 2019 and has not stopped falling since then.
To make matters worse, the pandemic hit her and she had no reaction, with which her business began a decline from which it seems there will be no brake.