What would drive a once-dominant education company to wholeheartedly embrace live-streaming e-commerce, even to the point of rebranding itself? The recent name change of New Oriental Online to "East Buy Holding Limited" represents not just a strategic pivot, but a bold statement of confidence in future growth potential. This move signals both a definitive departure from the tutoring era and the emergence of a new e-commerce contender.
A Single Announcement That Sent Shares Soaring
On the evening of January 5, 2023, New Oriental Online (01797.HK) announced its intention to change its name to "East Buy Holding Limited." The market response was immediate and dramatic—shares surged more than 8% during trading, closing at HK$55.05. This single corporate announcement added over HK$4 billion to the company's market capitalization, demonstrating the immediate brand value of East Buy.
The company's board explained that the rebranding better reflects its shifted business focus and strategic direction toward live-streaming e-commerce and its long-term growth potential. The chairman noted that the original name no longer adequately represented all business lines or the brand recognition established in mainland China, its primary market.
From Online Education to Live Commerce: A Strategic Evolution
East Buy's rise as New Oriental's live-streaming platform was no accident. Facing industry upheaval in education services, the company demonstrated remarkable market awareness and operational agility to successfully pivot its business model—not only rescuing the company but setting an industry benchmark for transformation.
The financial results speak for themselves. Between June and December 2022, East Buy accounts generated GMV (Gross Merchandise Value) totaling 5.937 billion yuan, achieving profitability. Industry analysts project that East Buy's live commerce business could reach 9.994 billion yuan in GMV during 2023, generating approximately 2.67 billion yuan in revenue—clear validation of the platform's e-commerce potential.
First Anniversary Milestones: The Success of Proprietary Products
On its first anniversary, East Buy released impressive metrics: expansion from one to six accounts, over 36 million combined followers, product categories spanning agriculture, food, books, and daily necessities, plus 52 proprietary products with 18.25 million cumulative orders. Its dedicated proprietary products account surpassed one million followers, becoming East Buy's fourth million-follower channel.
This focus on proprietary products reflects deep understanding of brand value creation. By developing quality in-house offerings, East Buy enhances profitability while strengthening customer loyalty and brand influence. As this business model matures, independent operation becomes increasingly feasible.
Diversification: Charting Future Growth
With its main account now boasting 29.209 million followers—securing its position among top live-streamers—East Buy's evolution into a dedicated e-commerce company appears inevitable. Yet its ambitions extend further.
Recent business registration updates revealed expanded operations including medical device sales, pharmaceutical wholesale and retail, and medical mask distribution—signaling strategic diversification of proprietary offerings.
The development of an independent platform may represent the next phase. Establishing its own e-commerce infrastructure would reduce reliance on third-party platforms, improve data control and user experience, while further expanding brand recognition. When conditions permit, East Buy could emerge as a standalone e-commerce entity.
More Than a Name Change: Strategic Brand Evolution
The rebranding from New Oriental Online to East Buy represents fundamental brand elevation—clearly signaling strategic direction while communicating commitment to building a new identity centered on live commerce, quality products and services, and consumer trust.
The transformed East Buy will intensify focus on live e-commerce, innovating marketing approaches, enhancing product quality, optimizing user experience, and exploring new business frontiers. Industry observers anticipate East Buy's emergence as a standout performer in China's live commerce sector, delivering value to both consumers and investors.
Navigating Challenges and Opportunities
The transformation journey presents ongoing challenges in a competitive landscape. Maintaining content freshness, strengthening supply chain management, and adapting to regulatory changes all require strategic attention.
Yet significant opportunities abound. As live commerce continues expanding alongside growing consumer demand for quality offerings, East Buy's distinctive brand advantages and innovative capacity position it well for market leadership.
From education services to e-commerce, East Buy's bold transformation and successful brand evolution suggest a future rich with possibility—one where this reinvented company may yet write its own remarkable success story in China's dynamic digital commerce arena.