Online fashion retailer Mogu reports Steep Growth Numbers

Chinese online fashion and lifestyle retailer Mogu has reported an 18.7 per cent increase in gross merchandise value (GMV) for the year to March 31, to RMB17.408 billion (US$2.594 billion).

The company’s revenue for the year reached RMB1.074 billion (US$160.1 million), an increase of 10.4 per cent year on year.

However the number of active buyers in the year to March remained the same as the previous year, at 32.8 million.

The company said it live-video broadcast business continued to grow strongly with associated GMV increasing 138.1 per cent year on year.

“We delivered another quarter of solid growth,” said Qi Chen, Mogu’s chairman and CEO. “During the past quarter, we continued to expand, optimise and elevate the supply chain for our fashion ecosystem by enriching content, increasing user engagement on our live-video broadcasts, and facilitating more repeat repurchases,” he said.

“Looking ahead, we will continue to strengthen our unique three-way fashion ecosystem by further growing our content creation community of fashion key opinion leaders and live-video broadcast hosts, elevating the fashion-product supply chain and supporting deeper collaboration between merchants and KOLs, and ultimately facilitating greater user and community engagement through rich and high-quality interactive fashion content and products.”