BEIJING and SINGAPORE, July 9,
2018 /PRNewswire/ -- L Catterton Asia, the Asian unit of the
largest and most global consumer-focused private equity firm in the
world, and JD.com ("JD"), China's
largest retailer, today announced a strategic partnership with
Secoo Holding Limited ("Secoo" or the "Company") (NASDAQ: SECO),
Asia's largest online integrated
upscale products and services platform. Through the partnership,
L Catterton Asia and JD will
invest $175 million in Secoo.
Secoo is the world's leading online luxury fashion retailer and
provides customers with an unparalleled selection of authentic
upscale products and lifestyle services on the Company's integrated
online and offline shopping platform, which consists of Secoo.com,
mobile applications and offline experience centers. Across Secoo's
unique platform, the Company offers more than 300,000 SKUs, which
cover more than 3,000 global and domestic brands.
By partnering with L
Catterton Asia, Secoo will be able to leverage the firm's global
fashion and retail expertise to further expand within the luxury
market. The partnership will provide Secoo the opportunity to
collaborate with existing L
Catterton portfolio companies. The transaction will also enable
Secoo to continue enhancing shareholder value and strengthen
its leading position in
the rapidly growing Chinese luxury e-commerce market.
Ravi Thakran, Chairman and
Managing Partner of L
Catterton Asia, said, "We are thrilled to enter into a partnership
with Secoo, the luxury
e-commerce leader in China.
E-commerce continues to play an increasingly important role for
consumers across all demographics, and as evidenced by our
investment, we believe that Secoo is one of the strongest high-end
platforms for the Chinese consumer. We look forward to working
together with Richard and his outstanding team to
take Secoo to the next level
and continuously build out the
platform for high-end consumers."
"This partnership will help us enhance our luxury capabilities
and provide the best possible luxury shopping experience to
consumers in China," said
Shengli Hu, President of JD Fashion
& Lifestyle. "Chinese consumers are increasingly discerning
about their luxury purchases, demanding more variety and choice
than ever. As we look to continue to meet this demand, we see many
potential areas for future collaboration with Secoo."
"We are excited about this strategic partnership with
L Catterton Asia and JD,"
said Richard Li, Chairman and Chief
Executive Officer of Secoo. "L Catterton is the leading
consumer-focused investment firm in the world, and JD is
China's largest retailer and the
leading e-commerce giant in China.
By establishing relationships with leading partners in the
consumer, luxury goods and e-commerce spaces, Secoo is poised to
gain invaluable name recognition and further boost the Company's
reputation in the international luxury consumer space. Through this
partnership, Secoo will be able to leverage L Catterton and JD's operational
expertise and vast resources to expand and deepen our market
presence not only in China, but
across the globe."
About Secoo Holding Limited
Secoo Holding Limited ("Secoo") is Asia's largest online integrated upscale
products and services platform as measured by GMV in 2016. Secoo
provides customers a wide selection of authentic upscale products
and lifestyle services on the Company's integrated online and
offline shopping platform which consists of the Secoo.com website,
mobile applications and offline experience centers, offering over
300,000 SKUs, covering over 3,000 global and domestic brands.
Supported by the Company's proprietary database of upscale
products, authentication procedures and brand cooperation, Secoo is
able to ensure the authenticity and quality of every product
offered on its platform. For more information, please visit
ir.secoo.com.
About L Catterton Asia
With over $15 billion of equity
capital across six fund strategies in 17 offices globally,
L Catterton is the largest
and most global consumer-focused private equity firm in the
world. L Catterton's
team of more than 160 investment and operating professionals
partners with management teams around the world to implement
strategic plans to foster growth, leveraging deep category insight,
operational excellence, and a broad thought partnership network.
Since 1989, the firm has made over 200 investments in leading
consumer brands. L Catterton
was formed through the partnership of Catterton, LVMH and Groupe
Arnault. For more information about L Catterton, please visit
lcatterton.com.
Launched in 2009, L
Catterton Asia (previously known as L Capital Asia) is the Asian franchise of L Catterton, the world's leading
consumer growth investor. It has offices in Singapore and Mauritius, with further regional advisory
presence in Hong Kong,
Mumbai, Shanghai and Sydney. L Catterton Asia invests in
select consumer lifestyle businesses that will benefit from growing
discretionary consumption in Asian markets. L Catterton Asia leverages its
strategic relationship with LVMH and Groupe Arnault across the
entire investment process, from proprietary deal origination and
industry-specific due diligence to post-investment operational
value-add to its portfolio companies. L Catterton Asia's investments include:
Trendy International, Pepe Jeans,
Gentle Monster, YG Entertainment, Impresario Entertainment &
Hospitality and Sasseur — one the largest operators and developers
of lifestyle-focused outlet malls in China.
About JD.com, Inc.
JD.com, Inc. is China's leading
technology-driven e-commerce company. Its cutting-edge retail
infrastructure enables consumers to buy whatever they want,
whenever and wherever they want it. The company has opened its
technology and infrastructure to partners, brands and other sectors
as part of its Retail as a Service, offering to help drive
productivity and innovation across a range of industries. JD.com is
the largest retailer in China, a
member of the NASDAQ100 and a Fortune Global 500 Company.
For media inquiries please contact:
Secoo Holding Limited
Jingbo Ma
Tel: +86 10 6588-0135
E-mail: ir@secoo.com
L Catterton
Asia
Sanjay Gujral
Phone: +65 6672 7617
E-mail:
sanjay.gujral@lcatterton.com
Andi Rose / Andrew Squire
Joele Frank, Wilkinson Brimmer
Katcher
Phone: 212-355-4449
JD.com
Josh Gartner
E-mail: press@jd.com
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SOURCE L Catterton