HANGZHOU, China, Feb. 22, 2022 /PRNewswire/ -- Yunji Inc.
("Yunji" or the "Company") (NASDAQ: YJ), a leading membership-based
social e-commerce platform, today announced the launch of a premium
product line under its private label brand, Solo Life. With an
11-year track record and billions in annual sales, Solo Life's new
premium product line provides customers with higher-quality
professional-level products, bringing customers peace of mind in
terms of safety and efficacy.
With a mission to provide the most effective and professional
products to its customers, Solo Life cooperated with top-tier
international companies in product development. This includes a
partnership to develop anti-aging products with Lubrizol, one of
the top global suppliers in the cosmetics industry. Lubrizol has
won many international formula awards and brings a depth of
experience in product applications of peptides, which are a proven
anti-aging ingredient. Solo Life also cooperates with Rahn, a Swiss
company that has 60 years of international experience of handling
specialty and auxiliary products used by the cosmetic industry.
Working together, Rahn and Solo Life will explore product
ingredients, with a focus on researching active ingredients as well
as extraction and processing technologies. Rahn shares Solo Life's
philosophy of using only natural ingredients. This partnership
strategy has produced megahit products such as SUYE Concentrate
Illuminateur (the "Product"), a hyaluronic acid face mask. The
Product was an instant hit, generating RMB10
million in sales revenue within 15 minutes of its launch,
and continues to be popular, having brought in RMB40 million in sales as of today.
Several of Solo Life's products are certified to be registered
as a medical device by the National Medical Products
Administration, and can therefore be used in cosmetic surgery
applications. In China, only
products with the certification are authorized for use in cosmetic
surgery or for sale in pharmacies.
Shanglue Xiao, Founder and CEO of Yunji, commented, "It is a
great pleasure to see our Solo Life brand elevate the quality of
products it provides, allowing our members to enjoy more refined
and caring services and products in a safer, more secure
environment. As a beauty brand, the new premium product line puts
Solo Life directly on the international stage and makes it a leader
among domestic brands. After consideration, we have decided to
rebrand Solo Life by changing its name to "SUYE". This rebranding
will strengthen consumer perception of SUYE as a Chinese brand,
further bolstering its image. Going forward, we will continue to
focus on the execution of our growth strategy by developing private
labels and refining megahit product offerings for our
customers."
Safe Harbor Statements
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," "aims," "future," "intends,"
"plans," "believes," "estimates," "confident," "potential,"
"continue" or other similar expressions. Among other things, the
quotations from management in this announcement, as well as Yunji's
strategic and operational plans, contain forward-looking
statements. Yunji may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission (the "SEC"), 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
but not limited to statements about Yunji'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: Yunji's growth strategies; its future
business development, results of operations and financial
condition; its ability to understand buyer needs and provide
products and services to attract and retain buyers; its ability to
maintain and enhance the recognition and reputation of its brand;
its ability to rely on merchants and third-party logistics service
providers to provide delivery services to buyers; its ability to
maintain and improve quality control policies and measures; its
ability to establish and maintain relationships with merchants;
trends and competition in China's
e-commerce market; changes in its revenues and certain cost or
expense items; the expected growth of China's e-commerce market; PRC governmental
policies and regulations relating to Yunji's industry, and general
economic and business conditions globally and in China and assumptions underlying or related to
any of the foregoing. Further information regarding these and other
risks is included in Yunji'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 Yunji undertakes no obligation to
update any forward-looking statement, except as required under
applicable law.
About Yunji Inc.
Yunji Inc. is a leading social e-commerce platform in
China that has pioneered a unique,
membership-based model to leverage the power of social
interactions. The Company's e-commerce platform offers high-quality
products at attractive prices across a wide variety of categories
catering to the day-to-day needs of Chinese consumers. In addition,
the Company uses advanced technologies including big data and
artificial intelligence to optimize user experience and incentivize
members to promote the platform as well as share products with
their social contacts. Through deliberate product curation,
centralized merchandise sourcing, and efficient supply chain
management, Yunji has established itself as a trustworthy
e-commerce platform with high-quality products and exclusive
membership benefits, including discounted prices.
For more information, please visit
https://investor.yunjiglobal.com/
Investor Relations Contact
Yunji Inc.
Investor Relations
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
ICR, LLC.
Robin Yang
Email: Yunji.IR@icrinc.com
Phone: +1 (646) 224-6957
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SOURCE Yunji Inc.