GUANGZHOU, China, April 29,
2022 /PRNewswire/ -- Onion Global Limited ("Onion
Global", the "Group" 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 the
launch of "Hoomuch", a one-stop service super-platform that
provides customizable and sustainable service solutions, tools, and
business support for a wide range of B2B customers. As part of
Onion Global's Supply-to-Business (STB) strategy, the launch of
Hoomuch underscores its commitment to expanding its B2B customer
base by offering an integrated service solution for product
sourcing, product supply, and brand management services.
Hoomuch Platform Highlights:
- A global sourcing network covering 30+ countries and regions
with products in over 20 popular categories;
- Offers new consumption products from 1,000+ Chinese and
overseas premium and popular brands, and is continuously expanding
the categories of products;
- Caters to B2B customers' diversified needs by offering multiple
supply models including wholesale supply, exclusive sales, brand
agency, and customized supply;
- A self-established global logistics network featuring 2
overseas warehouses and 8 domestic warehouses with a total acreage
of over 60,000 square meters,15 customs clearance channels, and an
average domestic delivery time of 1-4 days; also provides
drop-shipping support for customers
Mr. Cong (Kenny) Li, Founder, and
CEO of Onion Global commented, "We are very excited to be rolling
out Hoomuch, our one-stop full-service super-platform designed
specifically for B2B customers. Following the announcement of our
STB strategy, the launch of Hoomuch marks our first concrete step
in further penetrating the B2B segment. By leveraging our
platform's extensive product categories, stable supply of goods,
and professional after-sales service, we will unlock and provide
business opportunities for B2B entrepreneurs throughout the entire
value chain from direct sourcing to drop-shipping. The new platform
will empower B2B customers to generate sustainable income with less
effort and higher cost efficiency by providing them with
high-margin products and premium brands for resale. Benefiting from
a higher inventory turnover, faster logistics, lower funding
demand, and enhanced customer experience, the new platform's
operation will help Onion Global further expand into the B2B
segment and cultivate the retail e-commerce sector more deeply,
thereby continuously strengthening our brand management
capabilities. On top of the R&D investment in new projects, we
are also actively seeking to expand our product categories. For
example, we are looking into the ready-to-cook packaged food
category that is time-saving, healthy, and cost-effective as it is
becoming increasingly popular with the younger generation. Our
focus on the ready-to-cook packaged food category aligns with our
commitment to better serve the younger generation's lifestyle, and
we believe Onion Global is fully geared up to capitalize on growth
in this segment."
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 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 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
In China:
Onion Global Ltd.
Investor Relations
E-mail: ir@msyc.cc
Christensen
Mr. Eric Yuan
E-mail: eyuan@christensenir.com
Tel: +86-10-5900-1548
In the United States:
Christensen
Ms. Linda Bergkamp
E-mail: lbergkamp@christensenir.com
Tel: +1-480-614-3004
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SOURCE Onion Global Limited