Secoo Announces Strategic Partnership with Ruyi Group, Expanding Business in Fashion Industry

BEIJING, July 16, 2018 /PRNewswire/ -- Secoo (NASDAQ: SECO), Asia's largest premium lifestyle platform, today announced a strategic partnership with Shandong Ruyi Group, a Chinese textile conglomerate with an extensive portfolio of fashion, luxury clothing and accessories brands. Through the Partnership, both companies will leverage respective resources and expertise in branding, technology, network and channel management to jointly establish a global omni-channel fashion supply chain characterized by deep cooperation in brand operations, big data, smart manufacturing and smart retail.

As a global leader in textile technology and fashion garment industries, Ruyi Group is a key supplier and partner for a wide range of luxury brands across the globe. In recent years, Ruyi Group has acquired, or taken significant ownership positions in many global fashion and luxury brands, including Sandro, Maje and Claudie Pierlot, under SMCP which is listed on the Euronext Paris exchange. Ruyi Group also owns the prestigious British trench coat brand Aquascutum, and has a controlling stake in Hong Kong menswear group Trinity, which operates Cerruti 1881, Gieves & Hawkes and Kent Curwen.

"We're thrilled to enter into this strategic partnership with the Ruyi Group," said Richard Li, Founder and CEO of Secoo. "Secoo is dedicated to establishing solid relationships with leading partners in the consumer, luxury and e-commerce spaces and our partnership with the Ruyi Group exemplifies this strategy. Our leading integrated luxury e-commerce platform is well-suited to drive growth through rapidly expanding brand collaborations and increasing product portfolios. Furthermore, Secoo will cooperate with the Ruyi Group in a variety of fashion and luxury retail innovations ranging from big data solutions to smart manufacturing to unique first-class shopping experiences for our premium customers."

Yafu Qiu, Chairman of Ruyi Group, commented, "We are pleased to partner with Secoo, the luxury e-commerce leader in China, to establish and implement omni-channel strategies for our fashion and luxury product offerings. Secoo's integrated online and offline shopping platform, which consists of Secoo.com, mobile applications and offline experience centers, has attracted approximately 20 million customers. We believe this expansive integrated platform along with our valuable brand assets and supply chain network expertise will synergize and unlock unparalleled opportunities in the fashion market for both firms."

Recently Secoo did a series of movement with brands in different areas, including Parkson Retail Group (cosmetic products), Capital Outlets Group (brands entry), Caissa Travel (customized travel service), Pernod Richard (alcohol products) and Edison Chen (limited products). Besides, Secoo also got $175 million investment from L Catterton Asia and JD.com, fastening brands relationship and enriching products categories.

With more expansions, Secoo will continue to follow the slogan 'Devoted to You' and remain dedicated to providing premium products and services for 20 million high-end consumers.

SOURCE Secoo Group