Onion Global's O'Mall Platform Drove Over RMB2 Million in GMV in First Two Months After Harper's BAZAAR Cosmetics Launch

Rhea-AI Summary

Onion Global Limited (NYSE: OG) launched Harper's BAZAAR cosmetics on its O'Mall platform in September 2021, generating a GMV of over RMB2 million within two months. The Group aims to establish a strong brand presence in China's cosmetics market, leveraging its supply chains and marketing strategies. CEO Kenny Li highlighted a growing consumer focus on beauty among young females in China, emphasizing the effectiveness of their influencer marketing model. The company's strategic partnerships and extensive community of 740,000 KOCs add to its competitive edge in the new consumption sector.

Positive

• Generated over RMB2 million in GMV within the first two months of Harper's BAZAAR cosmetics launch.
• Strong brand incubation and management capabilities with strategic partnerships.
• Extensive community of 740,000 KOCs enhances marketing reach and brand visibility.

Negative

• None.

GUANGZHOU, China, Dec. 13, 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 in September 2021 it launched Harper's BAZAAR cosmetics, a cosmetics brand that operates under Harper's BAZAAR Korea, on its O'Mall platform and has generated GMV of over RMB2 million in the two months since its debut. Onion Global's well-established upstream supply chains and precision marketing strategies helped the brand build a solid foundation for establishing a long-term brand image in the China cosmetics market.

Mr. Cong (Kenny) Li, Founder, and CEO of Onion Global commented, "Based on Onion Global's deep insights of the entire beauty and cosmetics sector, the focus on beauty in modern-day China from younger females is growing intensively. This drove Harper's BAZAAR cosmetics to be one of Onion Global's strategic partners for tapping into the new consumption industry in China. The growing number of our collaborations between global brands is yet another testament to our strong capabilities in new brand incubation and brand management, underpinned by our in-depth consumer insights and forecasts in the new consumption market. We also boast a competitive cultivation of omnichannel marketing channels through both key opinion consumers (KOCs) private traffic and public domain traffic pools. As of the end of the third quarter of 2021, we have an extensive community of 740,000 KOCs that can create large impressions within their respective social network, influencing consumers' views on fashion trends, life quality, and purchase decisions. Our model of transferring product users into product influencers proves to be an efficient and cost-effective path for new brands to reach consumers, and ultimately brand reputation spreads. We will continue to cultivate more KOC's in the beauty and cosmetics sector and build our core technological barriers to provide the hottest products through our omnichannel strategy to meet the growing needs of the younger generation."

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 HARPER'S BAZAAR Cosmetics

Harper's BAZAAR Cosmetics launched its cosmetics product line in March, 2020. Hearst, a leading global, diversified media, information, and services company with more than 360 businesses is the parent company of Harper's BAZAAR and has authorized Harper's BAZAAR Korea to produce and operate Harper's BAZAAR cosmetics.

About Hearst

Hearst is a leading global, diversified media, information and services company with more than 360 businesses. Its major interests include ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses; transportation assets including CAMP Systems International, a major provider of software-as-a-service solutions for managing maintenance of jets and helicopters; 33 television stations such as WCVB-TV in Boston and KCRA-TV in Sacramento, California, which reach a combined 19% of U.S. viewers; newspapers such as the Houston Chronicle, San Francisco Chronicle and Times Union (Albany, New York); and nearly 250 magazines around the world, including Cosmopolitan, ELLE, Men's Health and Car and Driver, and digital services businesses such as iCrossing and KUBRA.

For more information, please visit: https://www.hearst.com/.

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
Tel: +86-10-5900-1548

In United States:
Christensen
Ms. Linda Bergkamp
E-mail: lbergkamp@christensenir.com
Tel: +1-480-614-3004

View original content:https://www.prnewswire.com/news-releases/onion-globals-omall-platform-drove-over-rmb2-million-in-gmv-in-first-two-months-after-harpers-bazaar-cosmetics-launch-301442880.html

SOURCE Onion Global Limited

FAQ

What is the significance of Onion Global's launch of Harper's BAZAAR cosmetics?

Onion Global's launch of Harper's BAZAAR cosmetics is significant as it generated over RMB2 million in GMV within two months, indicating strong market acceptance.

How did Onion Global achieve strong sales for Harper's BAZAAR cosmetics?

The company utilized its well-established supply chains and precision marketing strategies to drive sales on its O'Mall platform.

What is the role of KOCs in Onion Global's marketing strategy?

KOCs, or Key Opinion Consumers, play a vital role in Onion Global's marketing strategy by influencing consumer trends and purchase decisions through their extensive social networks.

When was Harper's BAZAAR cosmetics launched on Onion Global's platform?

Harper's BAZAAR cosmetics was launched on Onion Global's O'Mall platform in September 2021.

What is Onion Global's stock symbol?

Onion Global is listed on the NYSE under the stock symbol 'OG'.