NEW YORK, April 03, 2019 (GLOBE NEWSWIRE) -- Ruhnn Holding Limited (Nasdaq: RUHN), the largest internet key opinion leader, or KOL, facilitator in China as measured by revenue in 2018, visited the Nasdaq MarketSite in Times Square today in celebration of their initial public offering (IPO) on The Nasdaq Stock Market.
Ruhnn Holding Limited provides professional training to the KOLs and helps them develop distinctive characters and grow their fan bases. KOLs, also known as influencers, are individuals who have the power to engage and impact people within a specific community or field, such as fashion, culture, entertainment and gaming. The company owns and operates online stores on third-party e-commerce platforms, a majority of which are opened in the name of the KOLs, that generate revenue through online sales of self-designed products. Ruhnn also connects their KOLs with third-party online stores and merchants to promote products sold in third-party online stores or provide advertising services on KOLs' social media spaces to third-party merchants. This new model allows them to operate in a more asset-light manner and collaborate with a greater number and variety of KOLs and brands.
“We are excited to become a publicly traded company on Nasdaq, an exchange that embodies innovation. We are proud to be among Nasdaq listed companies, which are some of the world’s most important internet and technology companies. Our team at Ruhnn has over 10 years of experience in e-commerce. With our Key Opinion Leader ecosystem, we have become the leading KOL incubator in China, and as such, the ideal partner of retail brands. Being here today is a milestone for us and we look forward to our continued growth,” said Min Feng, Co-Founder and Chairman of Ruhnn.
“Ruhnn Holding Limited prides themselves on their ability to identify and cultivate a large number of promising internet KOLs in an efficient and sustainable manner,” said Bob McCooey, Chairman, Nasdaq Asia Pacific. “They use data analysis and innovative technology to help their KOLs produce engaging content and more effectively interact with their fans to increase their popularity. We are so excited to welcome them to Nasdaq’s family of the world’s most innovative companies.”
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d626e046-806e-4219-bf33-8ad812778f6f