founder Lee Soo-man continued to act as the executive producer of the extended play, with Andreas Öberg, Daniel "Obi" Klein, Charli Taft, Deez, Maria Marcus, Kenzie, as well as others contributed both lyrics and production.

Upon its release, The Velvet received positive reviews from critics for clarifying the girl group's dual musical concept and their sophisticated R&B sound.

Entertainment announced that the music video and album's release would be delayed to March 17 "to guarantee a high quality of work".

The band apologized to their disappointed fans on the March 16 broadcast of 'Good Morning FM', where they talked about their new album and its title track.

[13] Other compositions of the extended play include the Daniel "Obi" Klein and Charli Taft-assisted "Cool Hot Sweet Love", the 90's R&B flavored "Light Me Up" and "First Time".

Entertainment founder Lee Soo-man, "Rose Scent Breeze" was covered by member Wendy, Seulgi and Joy and included as the last song for the extended play.

[14] Red Velvet held a special broadcast through Naver's V app on March 15, showing their new hairstyles for the first time as they talked about their preparations for their 'comeback'.

[13] The Star's Chester Chin praised the album's "languorous build-up", adding that One of These Nights' "indie sensibilities" is an "assured step in the right direction" for the girl group.

[20] A mixed review from writer Jeong Min-jae found the extended play to be "lukewarm" and "particularly shabby" compared to their previous release, citing "Cool Hot Sweet Love" and "Rose Scent Breeze" as the stand-out tracks nonetheless.

[23] The extended play also performed moderately on Billboard's World Albums Chart, peaking at number eight on the week of April 2, 2016.