GUANGZHOU, China, June 25, 2021 /PRNewswire/ -- Onion Global
Limited ("Onion Global" 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 has
entered into a strategic partnership with Sunwah Chuanyu, the
Sichuan Area Branch of Sunwah
Group to establish a joint venture Xinyang Wujie. The joint venture
will target new consumer opportunities in Southwest China, and aims to boost
cross-border e-commerce in the region with the mission of
"cross-promoting local Sichuan
goods to overseas markets, and bringing international goods to
Sichuan." Currently, Xinyang Wujie
has successfully introduced and incubated the first collection of
premium international brands.
Mr. Cong (Kenny) Li, Founder and
CEO of Onion Global, commented, "Southwest China is a rapidly evolving market
that presents us with many new growth drivers and business
opportunities. The changing consumer behaviors and overall
progression towards a higher quality of living and healthier
lifestyle will continue to drive the economic growth, leading to
massive, untapped market opportunities for us. Only the brands that
have effectively integrated global supply chains, high-quality
distribution resources, and elevated their operational efficiencies
will be able to remain competitive and continue to gain market
share to reshape their brand's landscape moving forward."
"We will continue to pursue further growth opportunities with
our brand partners in the "Big Healthcare" sector and build the up
and downstream production chain in the industrial zone," Mr. Li
continued.
Since its establishment, Onion Global has accumulated several
unique advantages in the areas of brand incubation, key opinion
consumer ("KOC") marketing, as well as novel and integrated online
and offline promotion, establishing an innovative closed-loop
operation model. The Company has in-depth cooperation with more
than 4,000 brands around the world and offers a wide selection of
more than 70,000 SKUs from 43 countries and regions. The Company
also has an extensive community with over 700,000 KOCs, which can
create 700 million impressions for brands in a single promotional
campaign. The partnership with Sunwah Chuanyu has laid a solid
foundation for Onion Global to further expand its presence in the
domestic consumer market and promote its global awareness.
Mr. Faqiang Wu, Director and President of the Sichuan Area Branch of Sunwah Group,
commented, "This strategic partnership will enable stronger links
between the two companies. The Tianfu New Area of Sichuan Province is one of the first national
import trade promotion and innovation pilot zones and will bring
new development opportunities for both parties. Meanwhile, our
existing investments in the Sichuan
Province will also provide both personnel support and
logistic channels for the partnership."
Sunwah Group is a highly diversified multinational conglomerate
with overseas investments across Southeast Asia, Europe, America and Australia. Based in Southwest China, Sunwah Chuanyu is the 7th
regional headquarters of Sunwah Group in Mainland China.
Ms. Shan (Mio) Ho, Director and
CFO of Onion Global, commented, "Under China's new economic
development policies, the country will continue to open up to
global markets more broadly. We will work to maximize the synergies
and consistently innovate through deepened cooperation between
corporations, and support further cooperation between upstream and
downstream partners to achieve greater economies of scale. Our
combined efforts will strengthen the advantages of China's industrial chains in global trade.
Chengdu benefits from three
national growth strategies, including the Belt and Road Initiative,
the economic circle of Chengdu and
Chongqing, as well as the New Land
and Marine Routes for Western Regions. The region
connects business and trade, logistics and capital, and provides a
strong support system to companies to expand their industrial
chains layout and promote external circulation development."
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, 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 words or phrases such as "may", "will," "expect,"
"anticipate," "target," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company's
filings with the SEC. All information provided in this press
release is as of the date of this press release, and the Company
does not undertake any duty to update such information, 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 offering an integrated solution to
develop, market and distribute new and inspiring branded products,
thereby reshaping the lifestyle shopping and consumer culture in
China. For more information,
please visit http://ir.msyc.com/. Onion Global Limited has been
listed on New York Stock Exchange since May
2021.
For more information, please visit: http://ir.msyc.com/.
About Sunwah Group
Sunwah is a highly diversified conglomerate with businesses in
eight principal areas: Seafood & Foodstuff, Real Estate,
Financial Services, Technology, Infrastructure, Media, Education
and training, Green technology and healthcare. Activities cover
extensively into Mainland China, Japan, Macau,
Vietnam, Myanmar, Cambodia, Singapore, Canada, Europe, the US and Australia.
For more information, please visit:
https://en.sunwahgroup2021.cn/.
For investor and media inquiries,
please contact:
In China:
Onion Global Ltd.
Investor Relations
E-mail: ir@msyc.cc
Christensen
Mr. Eric Yuan
E-mail: eyuan@christensenir.com
Tel: +86-13801110739
In United States:
Christensen
Ms. Linda Bergkamp
E-mail: lbergkamp@christensenir.com
Tel: +1-480-614-3004
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SOURCE Onion Global Limited