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.
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