GUANGZHOU, China, May 19, 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
RMB100 million in GMV within the
first three days of its 2022 High Five Shopping Festival. As
O'Mall's first large-scale promotion event in 2022, the festival
ran under the theme of "New Life, High Five" and specifically
caters to the lifestyle and consumption trends of Generation Z
consumers, allowing them to reward themselves with the newest and
latest lifestyle products. During the promotion, massive discounts
were on offer for a wide range of popular categories under distinct
consumption scenarios, including camping trips, 520 Valentine's
Day, and healthy living. The eight-day shopping festival started on
May 13, 2022 and will go on until
May 20, 2022.
Highlights for the first three days during the 2022
High Five Shopping Festival
- The total GMV during the first three days was over RMB100 million, and the total number of orders
was over 230 thousand;
- More than 13,000 Standard Product Units (SPUs) offered by over
1,000 brands participated in the High Five Shopping Festival this
year;
- More than 300 brands joined the festival for the first
time;
- O'Mall platform sourced the products from 32 countries/regions,
of which Australia was the top
original country/region in terms of GMV during the first three days
of the festival this year.
Mr. Cong (Kenny) Li, Founder, and
CEO of Onion Global commented, "The success of the High Five
Shopping Festival strongly reflects our insightful prediction of
new consumption trends in the modern era. With growing spending
power, Generation Z has become the driving force of consumption
growth, and their expectations of brands are constantly changing.
The younger generations are gradually shaping their own networks
and developing their preferred lifestyles and consumption choices,
bringing high growth potential to new consumption brands. Onion
Global will closely follow and monitor new consumption trends
developing from the ongoing pandemic, dive deeper into the
characteristics of younger generation consumers, and incubate and
provide the most attractive and cost-effective products to
consumers. The selection of camping, gifting and health products
for promotion during this shopping festival was specifically
curated based on our in-depth market and consumer data analysis.
Only by constantly staying ahead of consumers' changing needs and
expectations can we further solidify our position as a leading
brand management platform in the field of new
consumption."
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
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 the United States:
Christensen
Ms. Linda Bergkamp
E-mail: lbergkamp@christensenir.com
Tel: +1-480-614-3004
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SOURCE Onion Global Limited