Onion Global Limited (“Onion Global”, the “Group” or the “Company”), 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, 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.
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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 RMB1 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.”
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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.
