GUANGZHOU, China, July 1, 2022 /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 it generated over RMB14.8 million in GMV within the first three days of its 2022 Luca Brand Shopping Festival. To address the rapidly evolving needs and expectations of the younger generation, Luca Brand Shopping Festival, one of Onion Global's key promotional events of the year, brings together a collection of "fresh, fashionable and future" high-growth brands designed specifically for Gen Z. Onion Global has been implementing the Luca Brand portfolio strategy since 2018, currently consisting of over 40 new-consumption brands spanning across daily necessities, food, beauty, and healthcare to meet the diversified needs of young consumers. The twelve-day Shopping Festival started on June 17, 2022 and continued until June 29, 2022.
Highlights for the first three days during the 2022 Luca Brand Shopping Festival
- The total GMV during the first three days was over RMB14.8 million, and the total number of orders was over 30,000;
- More than 700 Standard Product Units (SPUs) offered by 36 brands participated in the Luca Brand Shopping Festival this year;
- The total number of buyers exceeded 19,000 with a repurchase rate of higher than 31%;
Mr. Cong (Kenny) Li, Founder, and CEO of Onion Global commented, "As part of our core strategy, the Luca Brand portfolio has helped Onion Global build emotional and personal connections with the younger generation, especially Gen Z, and respond to the ever-changing consumption environment. We believe with new demands bring new opportunities, and the diversification of consumer demand under the new consumption trend will undoubtedly change the landscape of new consumption brands. Against this backdrop, Onion Global helps brands adjust their marketing strategies to keep up with the consumption concepts of the new generation. For example, we helped Baiyunshan Wanglaoji, a functional drinking product, launch a new type of sugar-free and sparkling herbal tea to fit into diverse catering scenarios. We also incubated Soul Mui, a fruit wine brand featuring Chinese cultural elements, to target the alcopop and low alcoholic beverage market favored by the younger generation. This April, we launched Eyelicious, an eye fashion brand, to take advantage of the booming eye makeup market fueled by the regular wearing of face masks. Onion Global will capitalize on the new consumption trends and continue to work with its partners across the value chain, incubating and developing more trendy brands and products, and expand the Luca Brand categories further."
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 offers 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
Onion Global Ltd.
Mr. Eric Yuan
In the United States:
Ms. Linda Bergkamp
View original content:https://www.prnewswire.com/news-releases/onion-global-surpasses-rmb14-8-million-in-gmv-for-the-first-three-days-during-the-2022-luca-brand-shopping-festival-301579426.html
Source: Onion Global Limited Related Stocks: NYSE:OG