Yunji to Start First-Ever Private Label Food Brand Li Ba Tian
HANGZHOU, China, Jan. 29, 2021 (Globe NEWSWIRE) — Yunji Inc. (“Yunji” or the “Company”) (NASDAQ: YJ), a main membership-based mostly social e-commerce system, now announced the introduction of its private label foods brand, Li Ba Tian. The Corporation strategies to start advertising superior-good quality foods merchandise below the Li Ba Tian model on February 2, 2021. The introduction of Li Ba Tian marks the Company’s very first-ever addition of a private label meals brand name to its network of private label brands, rising manufacturers, and joint-venture manufacturers, additional showcasing the energy of its differentiated product supply chain.
Recognizing users’ rising calls for for quality meals, especially children’s foods, the Organization decided to launch Li Ba Tian. The to start with product or service underneath the Li Ba Tian non-public label food items brand is a substantial-quality grilled sausage with no excessive meals additives (the “Product”). The Company worked with a really renowned food items exploration institute and manufacturing unit for quite a few months to jointly establish the Solution. The Enterprise plans to commence promoting the Merchandise on its system on February 2, 2021, at 9:00 A.M. Beijing time. In the long run, the Corporation will collaborate with other brand names to launch more products under the Li Ba Tian personal label meals brand in groups which include crayfish and beef. To services a broader variety of consumption situations, the Enterprise also ideas to continue on exploring other foodstuff item groups, such as pre-made, fresh and frozen food items.
The introduction of Li Ba Tian demonstrates the Company’s growth into the e-commerce foodstuff sector, creating on its present solution choices in the natural beauty, own treatment, overall health and dwelling categories. The Company’s quite a few non-public labels have been nicely-gained by its people, including Solo Life, which recorded additional than RMB105 million in product sales in just two times all through the Company’s 2020 Double Eleven Searching Carnival.
Shanglue Xiao, Founder and CEO of Yunji, commented, “As an e-commerce system for users’ daily home needs, Yunji handles a extensive assortment of solution categories, and the foods classification has prolonged served as an significant ingredient of our platform’s choices. We have an understanding of that customers are progressively demanding high-high-quality, risk-free, and healthy food stuff products and solutions. However our investigation and investigation displays that most of the preferred foods solutions in the Chinese market currently only satisfy the least national quality standards. Recognizing this hole concerning buyer need and solution availability, we established Li Ba Tian, our 1st-ever non-public label foods manufacturer. Likely ahead, we system to employ Li Ba Tian to introduce high-excellent, accessible food items merchandise that each member of the family can love, but also to supply our customers with the maximum amount of foods excellent in the industry.”
Safe Harbor Statements
This announcement includes ahead-hunting statements. These statements are produced under the “safe harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These ahead-searching statements can be discovered by terminology this kind of as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other related expressions. Among other things, the quotations from management in this announcement, as nicely as Yunji’s strategic and operational plans, contain forward-hunting statements. Yunji may also make composed or oral forward-looking statements in its periodic reviews to the U.S. Securities and Exchange Fee (the “SEC”), in its annual report to shareholders, in push releases and other written resources and in oral statements manufactured by its officers, directors or employees to 3rd parties. Statements that are not historic points, like but not minimal to statements about Yunji’s beliefs and expectations, are ahead-hunting statements. Ahead-on the lookout statements involve inherent pitfalls and uncertainties. A variety of factors could result in actual effects to vary materially from those people contained in any ahead-looking statement, including but not constrained to the next: Yunji’s development approaches its future business enterprise advancement, results of functions and financial condition its capability to understand buyer demands and supply items and products and services to draw in and keep buyers its skill to sustain and improve the recognition and status of its model its capacity to rely on retailers and 3rd-social gathering logistics company suppliers to provide supply expert services to customers its ability to manage and increase high-quality management insurance policies and steps its means to set up and retain associations with retailers developments and levels of competition in China’s e-commerce marketplace changes in its revenues and particular value or cost products the predicted development of China’s e-commerce market PRC governmental procedures and restrictions relating to Yunji’s marketplace, and basic economic and small business ailments globally and in China and assumptions underlying or linked to any of the foregoing. Further information and facts regarding these and other challenges is bundled in Yunji’s filings with the SEC. All information presented in this push release and in the attachments is as of the day of this press launch, and Yunji undertakes no obligation to update any forward-on the lookout statement, except as essential beneath relevant legislation.
About Yunji Inc.
Yunji Inc. is a leading social e-commerce platform in China that has pioneered a exclusive, membership-based mostly product to leverage the ability of social interactions. The Company’s e-commerce system presents significant-high-quality merchandise at desirable price ranges across a huge wide range of categories catering to the day-to-working day desires of Chinese shoppers. In addition, the Enterprise makes use of highly developed systems which include massive details and synthetic intelligence to enhance user expertise and incentivize users to boost the system as properly as share solutions with their social contacts. Through deliberate item curation, centralized items sourcing, and effective provide chain administration, Yunji has proven itself as a dependable e-commerce system with superior-quality goods and special membership rewards, like discounted charges.
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