Online fashion retailer Mogu reports Steep Growth Numbers
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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.”
Questions & Answers
Q.What was the total revenue for Mogu in the year to March, and how does this compare to the previous year?
What was the total revenue for Mogu in the year to March, and how does this compare to the previous year?
Mogu's revenue for the year to March 31 reached RMB1.074 billion (US$160.1 million). This represents an increase of 10.4 per cent compared to the previous year, showing solid growth for the online fashion retailer.
Q.Did Mogu increase its active buyer base during the reported period?
Did Mogu increase its active buyer base during the reported period?
No, the number of active buyers remained the same as the previous year, at 32.8 million. Despite growth in other areas, Mogu did not expand its active buyer base.
Q.How significant is Mogu's live-video broadcast business to its overall gross merchandise value?
How significant is Mogu's live-video broadcast business to its overall gross merchandise value?
The live-video broadcast business is a significant growth area, with its associated GMV increasing by 138.1 per cent year on year. The company sees this as a strong contributor to its overall growth.
Q.What key strategies does Mogu plan to implement going forward?
What key strategies does Mogu plan to implement going forward?
Mogu intends to strengthen its fashion ecosystem by growing its content creation community, elevating the product supply chain, and fostering deeper collaboration between merchants and Key Opinion Leaders (KOLs) to boost user engagement.
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