GearBest online store has disappeared from the web. Instead, the usual address Gearbest.com takes you to just a blank page where the only message displayed is "URL Ivalid" as you can see in the following image. It seems that the company, China's online sales giant, has been rumored to have gone bankrupt.
At first it was believed that it could be due to an error in the configuration of the GearBest servers, but you have to consider that it has been like this for 10 days and there hasn't been a solution for so long.And that's what makes you think, that there are more. It is also strange that the company has not communicated anything publicly about this "invalid URL".
If we go further, we can see that GearBest's presence on social networks has long ceased. The Internet giant has had no activity on its Twitter account since April 2020 and on its Facebook account, which has been updated the most, there is no activity: the last post on Mark Zuckerberg's platform is from July 7th. In Spain he has never used this platform much and the last posting on Facebook is from 2018.
More information on a possible bankruptcy
Looking back, we can recall that in June it was published that Shenzhen Globalegrow E-Commerce Co. Ltd, the parent company of GearBest, filed documents with the Guadong Provincial Court in China to file for bankruptcy. One of those bankruptcy declarations Doesn't necessarily mean a permanent shutdown of GearBest, but if we see that the site has been closed for 10 days then it's a possibility that scores among the rumours.
It is also known that the shareholders have cut back on the funds they are providing to the company, which has affected the fall in the price of their shares and therefore the budget of the online store would have been reduced, making it difficult to keep it operational.
Here's how Aliexpress and other Chinese stores have changed with the new mandatory VAT (which they only communicate just before the purchase)
GearBest was founded in 2014. It has competed (or competed, if this closure is not final) with companies like Aliexpress or Bangood.
In 2018, it became one of the most important Chinese companies internationally (it became the 22nd largest global company in China along with other important names such as Xiaomi, ZTE, Lenovo or Shein). In 2019, an image change and restructuring took place. On his website there were, among other things, electronic devices such as clothing or household accessories.
It is worth remembering that since July, the European VAT law obliges companies like GearBest to pay VAT on products with low prices, which they have not done before and which now represents a change in their business, since they have to increase the prices of the products cheap that distinguish them.
GearBest, one of Aliexpress's major competitors, has disappeared from the Internet: everything points to bankruptcy