Revu Corporation Completes Acquisition of Chinese Wanghong Promotion Marketing Specialist 'OM'

[Asia Economy Reporter Donghyun Choi] REVU Corporation, the operator of the influencer marketing platform 'REVU', is entering the global influencer commerce market by acquiring OLive Marketing (OM), a Chinese influencer (Wanghong) promotional marketing specialist company.

REVU Corporation announced on the 27th that it has signed a stock purchase agreement (SPA) for the acquisition of management rights with OM and completed the process of securing a 51% stake. The strategy is to combine the solution technology of its own platform REVU with the Wanghong business model to target the Chinese commerce market.

According to KOTRA, the size of the Chinese live commerce market based on Wanghong is rapidly growing and is expected to reach approximately 900 trillion KRW by 2023.

OM, which REVU Corporation acquired, is a Chinese promotional marketing specialist company that simultaneously conducts marketing and distribution in China based on a collaborative structure with major Chinese multi-channel network (MCN) companies.

OM achieved high sales and results last year through joint Chinese promotional marketing with Li Ziqi, one of the top-tier Wanghong. Through joint marketing with Li Ziqi last year, a new high-end brand skin lotion was sold out in 20 seconds on Singles' Day, achieving sales of 4.8 billion KRW. Currently, OM is known to be capable of joint promotional marketing with famous Wanghong including Daruru, Tengwuja, and Hyemin Unnie, in addition to Li Ziqi.

REVU Corporation plans to actively utilize OM’s Wanghong network to promote comprehensive promotional marketing in the Chinese market and expand its global sales base.

Jang Daegyu, CEO of REVU Corporation, said, "The size of the Chinese live commerce market has limitless potential demand," adding, "Starting with Wanghong promotional marketing, this can be an opportunity for successful entry into the influencer commerce market as well as global business expansion."

Meanwhile, the platform 'REVU' operated by REVU Corporation is the largest influencer marketing service in Korea that connects influencers with high social network service (SNS) propagation power to consumer goods brands and local small business owners in need of marketing. As of last year, the cumulative number of registered influencer members exceeded 730,000.

This content was produced with the assistance of AI translation services.