MOGU is a Chinese fashion e-commerce platform built around live video broadcasting (LVB). The platform connects three groups: merchants selling fashion products, Key Opinion Leaders (KOLs) who host live streams, and users who watch and shop. The core user is a young Chinese woman aged 25–35 who uses the Mogujie app or WeChat Mini Programs to browse live channels, watch KOLs demonstrate fashion products in real time, and buy directly through embedded product links. Beyond live streaming, MOGU also hosts short-form video, photography, and product reviews as additional discovery touchpoints. MOGU monetizes primarily through commissions on completed transactions — roughly 5% for standard merchants and 10% for live video merchants — as well as marketing services (promoted placement sold on a cost-per-click or cost-per-mille basis). MOGU also operates Ruisha Technology, a B2B business acquired in 2021 that provides brand-name retailers with digital operations tools, including website management and data platforms. A smaller financial services offering provides consumer financing and merchant working capital. KOLs are central to the platform; MOGU actively incubates new hosts by providing traffic support, supply chain access, and analytics. MOGU has also been expanding its product categories beyond fashion into beauty, personal care, and household goods to capture a broader share of user spending.