HANGZHOU, China, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Ruhnn Holding Limited (“Ruhnn” or the “Company”) (NASDAQ: RUHN), the largest internet key opinion leader (“KOL”) facilitator in China as measured by revenue in 2018, according to Frost & Sullivan, today announced the relocation of its corporate headquarters, as part of the Company’s long-term strategic expansion plans. The Company’s new corporate headquarters is located at Floor 8-12, Building No. 2, Hangzhou Lvgu Innovation Center in Hangzhou, Zhejiang Province, China. The new office location offers a larger footprint and upgraded office facilities, allowing the Company to provide an elevated employee experience.
In addition, in October 2019, one of the Company’s major subsidiaries also relocated its workplace to a new and upgraded office, located in the downtown area of Hangzhou, to meet the business expansion needs.
“We are thrilled to relocate our corporate headquarters to support the needs of our dynamic business and operations. The new corporate headquarters includes upgraded office amenities and larger workspaces, all designed to enhance collaboration and drive efficiency. This move is a both strategic and logical next step in our growth strategy, allowing Ruhnn to better accommodate future business expansion, while simultaneously, providing a nurturing environment to foster team innovation as well as attract and retain local talent,” Mr. Min Feng, founder and Chairman of Ruhnn, commented. “We are looking forward to sustained and healthy growth at our new home as we continue to strengthen our leading position in China’s KOL e-commerce industry.”
About Ruhnn Holding Limited
Ruhnn Holding Limited is the largest internet key opinion leader (“KOL”) facilitator in China as measured by revenue in 2018, according to Frost & Sullivan. The Company connects influential KOLs who engage and impact their fans on the internet to its vast commercial network to build the brands of fashion products. Ruhnn pioneered the commercialization of the KOL ecosystem in China, and operates under both full-service and platform models. The Company’s full-service model integrates key steps of the e-commerce value chain from product design and sourcing and online store operations to logistics and after-sale services. The platform model promotes products sold in third-party online stores and provides advertising services on KOL’s social media spaces to third-party merchants. As of June 30, 2019, the Company had 133 signed KOLs with an aggregate of 172.0 million fans across major social media platforms in China.
For more information, please visit: ir.ruhnn.com.
Safe Harbor Statement
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,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from Ruhnn’s management in this announcement as well as Ruhnn’s strategic and operational plans contain forward-looking statements. Ruhnn may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, 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 statements about Ruhnn’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: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; trends in the internet KOL facilitator industry in the PRC and globally; competition in the Company’s industry; fluctuations in general economic and business conditions in China; and the regulatory environment in which the Company operates. Further information regarding these and other risks is included in the Company’s filings with the SEC, including its registration statement on Form F-1, as amended, and its annual reports on Form 20-F. All information provided in this press release is as of the date of this press release, and Ruhnn does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
In China:
Ruhnn Holding Limited
Sterling Song
Senior Director of Investor Relations
Tel: +86-571-2629-8238
E-mail: ir@ruhnn.com
The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: ruhnn@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ruhnn@thepiacentegroup.com