Ruhnn Holding Limited Announces Strategic Investment in Duomai
June 21 2019 - 5:00AM
Ruhnn Holding Limited (“Ruhnn” or the “Company”) (NASDAQ: RUHN),
the largest internet key opinion leader (“KOL”) facilitator in
China as measured by revenue in 2018, according to Frost &
Sullivan, today announced that it has entered into agreements to
acquire an aggregate of 8% equity interests in Hangzhou Duomai
E-Commerce Ltd. (“Duomai”), a well-known online marketing service
provider in China, from two of its individual shareholders for an
aggregate purchase price of approximately RMB80 million in cash.
The transactions are expected to close by June 30, 2019.
“We are very pleased with this strategic
investment in Duomai. As a well-known online marketing platform in
China’s internet advertising industry, Duomai has been playing an
integral role in providing precise online traffic acquisition and
marketing services for a number of companies,” said Mr. Min Feng,
Founder and Chairman of Ruhnn. “We look forward to deepening our
cooperation with Duomai to enhance our online marketing, precise
e-commerce operation and KOL marketing capabilities, as well as
diversify our monetization channels, with a goal to strengthen our
leadership position and gain additional market share in China’s KOL
e-commerce market.”
About Ruhnn Holding Limited
Ruhnn Holding Limited is the largest internet
key opinion leader (“KOL”) facilitator in China as measured by
revenue in 2018, according to Frost & Sullivan. The Company
connects influential KOLs who engage and impact their fans on the
internet to its vast commercial network to build the brands of
fashion products. Ruhnn pioneered the commercialization of the KOL
ecosystem in China, and operates under both full-service and
platform models. The Company’s full-service model integrates key
steps of the e-commerce value chain from product design and
sourcing and online store operations to logistics and after-sale
services. The platform model promotes products sold in third-party
online stores and provides advertising services on KOL’s social
media spaces to third-party merchants. As of March 31, 2019, the
Company had 128 signed KOLs with an aggregate of 155.1 million fans
across major social media platforms in China.
For more information, please visit:
ir.ruhnn.com.
About Hangzhou Duomai E-Commerce
Ltd.
Duomai was founded in 2010 and is based in
Hangzhou, China. According to its 2018 annual report, Duomai mainly
provides result-oriented online marketing services. With over 10
years of experience in online marketing, Duomai has been providing
clients with optimized precise marketing services by utilizing big
data and algorithmic models. Duomai worked with over 800 companies
as of December 31, 2018. Duomai’s shares are listed on The National
Equities Exchange and Quotations Co., Ltd. (NEEQ) in China (stock
code: 835084).
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates” and similar statements.
Among other things, the business outlook and quotations from
Ruhnn’s management in this announcement as well as Ruhnn’s
strategic and operational plans contain forward-looking statements.
Ruhnn may also make written or oral forward-looking statements in
its periodic reports to the U.S. Securities and Exchange Commission
(“SEC”) on Forms 20-F and 6-K, in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Ruhnn’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: the Company’s goals and strategies; the Company’s future
business development, financial condition and results of
operations; trends in the internet KOL facilitator industry in the
PRC and globally; competition in the Company’s industry;
fluctuations in general economic and business conditions in China;
and the regulatory environment in which the Company operates.
Further information regarding these and other risks is included in
the Company’s filings with the SEC, including its registration
statement on Form F-1, as amended, and its annual reports on Form
20-F. All information provided in this press release is as of the
date of this press release, and Ruhnn does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please
contact:
Ruhnn Holding Limited
In China:
Sterling SongSenior Director of Investor
RelationsTel: +86-571-2629-8238E-mail: ir@ruhnn.com
The Piacente Group, Inc.Emilie WuTel:
+86-21-6039-8363E-mail: ruhnn@thepiacentegroup.com
In the United States:
The Piacente Group, Inc. Brandi
PiacenteTel: +1-212-481-2050E-mail: ruhnn@thepiacentegroup.com
Hangzhou Duomai E-Commerce
Ltd.
Qun BaiSecretary of the BoardTel:
+86-571-5663-8569E-mail: ir@duomai.com
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