GUANGZHOU, China, Oct.19, 2022 /PRNewswire/ -- Onion Global Limited ("Onion Global", the "Group" or the "Company") (NYSE: OG), a next-generation lifestyle brand platform that connects the world's fresh, fashionable, and future technology-based brands to young people in China and across Asia, today announced that it generated over RMB12 million in GMV within the first three days of its 2022 Luca Brand Seasonal Promotion. The sales promotion offered discount coupons for quality products from premium brands, creating a fun, engaging, and affordable shopping experience tailored to the diverse demands of younger consumers. During the promotion, Onion Global used live games to engage with consumers and build awareness of the LUCA brands. Onion Global's platform O'Mall subsidized popular and trending products from LUCA brands through a variety of preferential discounts covering both international and domestic orders during the period. The eight-day seasonal promotion, under the theme "Luca Brand New Players", started on October 12, 2022 and continued until October 19, 2022.
Highlights from the first three days of the 2022 Luca Brand Seasonal Promotion
- The total GMV during the first three days was over RMB12 million, and the total number of orders was over 25,000;
- More than 900 Standard Product Units (SPUs) offered by 45 brands participated in the Luca Brand Shopping Festival this year;
- The repurchase rate of buyers was more than 30%;
Mr. Cong (Kenny) Li, Founder, and CEO of Onion Global commented, "Onion Global remains committed to its core values: 'customer oriented' and 'embracing change'. Onion Global will continue to build a diversified brand ecosystem suited to market conditions by bringing a revolutionary mindset and innovative thinking to its exploration of new businesses. Based on its 3F brand selection criteria and global brand supply chain, Onion Global brings fresh, fashionable and future brands that anticipate market demands into its brand bank. Onion Global will fully leverage the 3F brand bank to cultivate LUCA brands that are trendy and attractive to young people. At the same time, Onion Global is committed to cooperation and joint development with famous laboratories and research institutions across the world to create high quality private label brand products from production bases in Europe, Japan and South Korea. Onion Global has built LUCA brands, a brand matrix covering more than 40 high-quality vertical brands and 700 SKUs, through in-house research, investment, strategic planning, and brand management. Through the 'LUCA Brand Era' initiative, Onion Global will continue to launch 30-50 new brands each year, enabling our business to quickly adapt to fast-changing consumer preferences in this dynamic market environment. Going forward, Onion Global will continue to enhance consumers' quality of life with products that are both aesthetically pleasing and practical, striving to create great experiences for our customers."
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 connects the world's fresh, fashionable, and future technology-based 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
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Source: Onion Global Limited Related Stocks: NYSE:OG
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