Onion Global Reaches RMB222 million in GMV for the first three days during the 2021 Beauty Carnival Shopping Festival
Onion Global Limited (NYSE: OG) announced a successful 2021 Beauty Carnival shopping festival, generating RMB222 million in Gross Merchandise Volume (GMV) over the first three days, known as China's Black Friday. The event featured participation from 4,239 brands, including 28 private label brands. The total orders exceeded 440,000, with private label sales reaching RMB1.9 million. CEO Kenny Li emphasized plans to enhance user experience through investment in virtual shopping technologies.
- Generated RMB222 million in GMV within the first three days.
- Participation of 4,239 brands demonstrates strong market engagement.
- Successful private label sales of RMB1.9 million.
- Plans to invest in virtual shopping technologies to enhance user experience.
- None.
GUANGZHOU, China, Sept. 10, 2021 /PRNewswire/ -- Onion Global Limited ("Onion Global", the "Group" or the "Company") (NYSE: OG), a next-generation lifestyle brand platform that incubates, markets and distributes the world's fresh, fashionable and future brands to young people in China and across Asia, today announced that its 2021 Beauty Carnival shopping festival achieved another milestone and generated a total of Gross Merchandise Volume ("GMV") settled on all of the Company's e-commerce and offline channels of RMB222 million during the first three-days. Known as "China's Black Friday", the Beauty Carnival is one of Onion Global's key shopping festivals for global brands in China. The success of this festival is a key engine driving the revenue of the Group bringing together hundreds of thousands of consumers. This year's event saw 4,239 brands participating, of which 28 are private label brands. The Beauty Carnival started on September 8, 2021 and will end on September 16, 2021.
Highlights from the 2021 Beauty Carnival shopping festival
- The total GMV generated during the first three days was RMB222 million, and the total number of orders was over 440 thousand.
- 4,239 brands participated in Beauty Carnival this year, of which 28 are private label brands.
- The GMV generated from private label brands was RMB1.9 million.
- O'Mall platform sourced more than 450 thousand SKUs from 34 countries/regions during the first three days of the Beauty Carnival this year.
Mr. Cong (Kenny) Li, Founder and CEO of Onion Global, commented, "'Crush On a New Life' is the theme of our Beauty Carnival shopping festival this year, and as we continue to grow the event it has increasingly become seen as China's version of a 'Black Friday' shopping festival. We also offer the most favorable prices to attract more consumers and increase our user engagement. Finally, we are differentiated from other platforms as we can enable our KOCs to interact with their fans and introduce new brands to consumers by telling the essence of their brand stories live. As we move forward, we are reviewing potential opportunities to invest in and develop operational capabilities in the virtual shopping space, which will further enhance our ability to provide users with new and comprehensive shopping experience. With the rapid development of telecommunication technologies such as virtual reality (VR) and advanced reality (AR), we believe that the mode of consumption will gradually transition towards the virtual world in the form of VR and AR, as users continue to seek fresh shopping experiences in the future."
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, the Company's forecasts, general observation of the industry and business outlook, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "expects," "anticipates," "target," "aim," "future," "intends," "plans," "believes," "potential," "estimates" "continue," "is/are likely to," or other similar statements. Further information regarding these and other risks is included in Onion Global's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Onion Global does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
About Onion Global Limited
Onion Global Limited (NYSE: OG) is a next-generation lifestyle brand platform that incubates, markets and distributes the world's fresh, fashionable and future brands, which we refer to as "3F brands," to young people in China and across Asia. The Company's mission is to be the dream factory of lifestyle brands for young people. The Company's platform offering an integrated solution to develop, market and distribute new and inspiring branded products, thereby reshaping the lifestyle shopping and consumer culture in China. Onion Global Limited has been listed on New York Stock Exchange since May 2021.
For more information, please visit: http://ir.msyc.com/.
Investor Relations Contact
In China:
Onion Global Ltd.
Investor Relations
E-mail: ir@msyc.cc
Christensen
Mr. Eric Yuan
E-mail: eyuan@christensenir.com
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In United States:
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Ms. Linda Bergkamp
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Tel: +1-480-614-3004
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SOURCE Onion Global Limited
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