China's Mogu reports 10.4% revenue growth in fiscal year 2019

HANGZHOU - China's online fashion and lifestyle destination Mogu Inc saw its total revenue rise 10.4 percent year-on-year to 1.07 billion yuan ($160 million) for the fiscal year 2019.

Mogu announced Thursday its unaudited financial results for the fourth quarter and fiscal year 2019 ending March 31, 2019.

Gross Merchandise Value for the twelve-month period was 17.4 billion yuan, up 18.7 percent year-on-year.

Active buyers in the twelve-month period remained largely unchanged at 32.8 million compared to the same period last year, the company said.

Meanwhile, total revenue for the fourth quarter was up 15.9 percent year-on-year to 218 million yuan.

Founded in 2011, the company provides young people with a more accessible and enjoyable shopping experience for everyday fashion.