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 consumers. 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 Secoo Group