Over 4000 Brands Participated in Onion Global's 2021 Double 11 Shopping Festival "Imagination Season"

Rhea-AI Summary

Onion Global Limited (NYSE: OG) reported successful results from its 2021 Double 11 Shopping Festival, held from November 8 to November 16, with over 4,300 brands participating. Private label brands accounted for 45.4% of total Gross Merchandise Value (GMV), up from 37.8% the previous year. Notably, 17 brands achieved over RMB100 million in GMV. The festival highlighted a significant increase in consumer engagement, with the O'Mall platform sourcing more than 524,000 SKUs globally. CEO Kenny Li emphasized the company's focus on evolving consumer demands and driving growth in China's new consumption economy.

Positive

• Gross Merchandise Value (GMV) from private label and strategic brands reached 45.4%, up from 37.8% last year.
• 17 brands achieved over RMB100 million in GMV during the Shopping Festival.
• Over 4,300 brands participated, showcasing strong market engagement.

Negative

• None.

GUANGZHOU, China, Nov. 17, 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 Double 11 Shopping Festival "Imagination Season" ("Shopping Festival") concluded flawlessly with over 4,000 brands participated in the campaign. The Shopping Festival started on November 8, 2021 and ended on November 16, 2021.

Highlights from the 2021 Double 11 Shopping Festival "Imagination Season"

• 4,342 brands participated in the Shopping Festival this year, of which 29 were private label brands.
• GMV of private label brands and strategic brands as a percentage of total GMV increased to 45.4% this year from 37.8% of last year.
• 17 brands surpassed RMB100 million in GMV during the festival.
• The O'Mall platform sourced more than 524,000 SKUs from 43 countries/regions.
• The top five foreign countries selling to China through our cross-border platforms in order by GMV: Australia, South Korea, United States, Japan and Germany.

Mr. Cong (Kenny) Li, Founder and CEO of Onion Global, commented, "The Shopping Festival is one of our top three S-level shopping campaigns during the year. By leveraging our extensive analysis of local market data, deep consumer insights, and advanced supply chain, we can optimize the operations for private label brands and strategic brands to personalize the entire customer experience. We are witnessing the rise of China's new consumption economy and constantly analyzing how to effectively meet the growing demands of Chinese consumers. We can identify the latest fashion trends and help upgrade consumer lifestyles, which also drives new nationwide users onto our platform. The new record GMV milestone for our private label brands and strategic brands during the festival speaks to our success from strategically pivoting to focus more on private label brands and strategic brands. Looking ahead, Onion Global will continue to lead the evolution towards the future new consumption economy and lifestyle and drive our topline growth."

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
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/over-4000-brands-participated-in-onion-globals-2021-double-11-shopping-festival-imagination-season-301426664.html

SOURCE Onion Global Limited

FAQ

What were the results of Onion Global's 2021 Double 11 Shopping Festival?

Onion Global's 2021 Double 11 Shopping Festival saw over 4,300 brands participate, with private label brands contributing 45.4% to total GMV.

How much GMV did private label brands achieve during the Shopping Festival?

Private label brands accounted for 45.4% of total GMV, up from 37.8% the prior year.

Which brands surpassed RMB100 million in GMV during the festival?

Seventeen brands surpassed RMB100 million in GMV during the 2021 Double 11 Shopping Festival.

When did the 2021 Double 11 Shopping Festival take place?

The 2021 Double 11 Shopping Festival ran from November 8 to November 16.

What is Onion Global's focus for the future?

Onion Global aims to continue evolving with the new consumption economy and enhancing growth by focusing on private label brands.