Lei Jun once said: “standing on the tuyere, pigs can fly.” when it comes to the Internet age, e-commerce is probably the most profitable business. For example, Bezos became the richest man in the world with Amazon, Jack Ma became the richest man in China with Alibaba, and Huang Zheng became a billionaire with pinduoduo. Due to the low threshold of e-commerce, many people are involved in this new industry, and the story from poor to rich is quietly staged every day. However, with the continuous development of e-commerce, the competition is more and more fierce. Today’s e-commerce battlefield, whether it is the continuous injection of fresh blood, or the old players out of the dark, are far from as easy to survive as in the past. < / P > < p > with the development of e-commerce industry, many refined branches are gradually born. For example, Jingdong and Suning, which focus on home appliances, Netease koala and tmall international, which focus on cross-border e-commerce, and vipshop and Shangpin, which focus on luxury e-commerce. However, not every e-commerce platform can be as successful as Taobao. Many enterprises are out in the fierce market competition, and Shangpin is one of them. < p > < p > established in 2010, it is estimated that it has a peak value of US $500 billion in e-commerce. As a rising star in the e-commerce market, Shangpin even ignored Taobao, Jingdong and vipshop for a time, and even “trampled” the three giants on the posters. In July 2010, Shangpin’s luxury e-commerce platform was officially launched. At that time, luxury e-commerce was in the industry wind, Shangpin was favored by many capitals. It has been invested by Lei Jun, Chenguang capital, highland capital and other capital forces. With its unique luxury supply chain, Shangpin has formed its own business model – member + Flash purchase of luxury goods, which has been recognized by the majority of consumers and entered a stage of rapid development. However, the good news is not long. In 2012, shangpin.com was established only two years ago, but the news of large-scale layoffs came out. According to the former employees, the reasons for the large-scale layoffs were the management confusion of shangpin.com, the failure to obtain the previously agreed venture capital fund, and the decline in performance, which led to the large-scale layoffs. < / P > < p > after the wave of layoffs, Shangpin has carried out a major reform, RE refined its business to the field of luxury and fashion, and achieved good results. Since then, Shangpin has signed exclusive agency contracts with a number of luxury brands, and has really gained a firm foothold in the market. However, on July 30 last year, Shangpin announced in its app that its official website and app would be suspended. The next day, according to Shangpin employees, Shangpin issued a “bankruptcy notice” internally. The announcement said that Shangpin was unable to continue its business due to financial problems and had started bankruptcy proceedings. It also said that unpaid employees’ wages would be paid after the bankruptcy proceedings. So, once all the rage, even Taobao Jingdong such industry giants are not in the eyes of shangpin.com, why will they go bankrupt? < / P > < p > with the vigorous development of luxury e-commerce platforms such as Shangpin and vipshop, it has naturally aroused people’s envy. A large number of new players to join the game, industry competition is becoming increasingly fierce. Before long, old e-commerce giants like Jingdong and Taobao expanded their business to luxury goods. With years of accumulated user advantages, they quickly seized the luxury e-commerce market. With the arrival of giants, these luxury e-commerce platforms that are eating meat have been reduced to the point of drinking soup. < p > < p > no matter which e-commerce platform is in the process of development, it will face a headache. Even the industry giants like Taobao and Jingdong can’t stop the appearance of fake goods, especially shangpin.com. Unlike ordinary goods, luxury goods have fewer audiences and higher prices. Once there is a fake problem, the impact on the platform will be more serious. Previously, Shangpin was fined 1.8 million yuan for selling fake Burberry. Losing money is a small matter, and losing customers is the biggest problem. < p > < p > in recent years, with the development of China’s economy, luxury has gradually become the choice of people. But the fact is that for most Chinese, the main consumption channel of luxury goods is not physical stores or e-commerce platforms, but purchasing on behalf of others. No matter how enthusiastic consumers are about luxury goods and how good the industry environment is, it will not help if consumers choose to buy from other channels. < / P > < p > shangpin.com is not an example. Before it, pinju.com, Netease shangpin.com, Sina luxury products, zunxiang.com and other luxury e-commerce have all closed down, which shows how difficult it is for luxury e-commerce to survive. If luxury platform wants to achieve long-term development, it must strictly control the source of products. Once consumers lose confidence in the platform, then the platform is not far away from the exit. Vipshop, as another domestic e-commerce platform specializing in luxury goods, has completed the transformation from “special price” to “genuine special sale”. 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