Onion Global Limited, founded in 2015, is a next-generation lifestyle branding platform that currently works with over 4,000 brands in 43 countries and regions through brand partners and serving as an incubator, brand marketing and distribution agency in China at the same time as the development of private labels. The group owns more than 20 private labels and provides next generation lifestyle brands to consumers through its autonomous online sales channels, KOC (Key Opinion Consumers) engagement, platform operation. forms of third-party e-commerce and the establishment of offline retail experience store products.
The Prospectus demonstrates that since its inception in 2015, Onion Global Limited has maintained continuous and high profit growth. For 2020, the group recorded an annual turnover of more 3.8 billion yuan generating a net profit greater than 200 million yuan, doubling the net profit compared to 2019. Onion Global Limited has consistently gained market recognition for its outstanding performance in brand management.
About 50% of the net proceeds of the IPO will be used for the development of private brands and brand partnerships; about 20% will be used for the expansion and diversification of marketing and distribution channels; about 15% will be used for technological capacity building; while approximately 15% will be used for working capital and other general corporate purposes, including potential strategic investments and acquisitions.
SOURCE Onion Global Limited