Secoo Gets $175 Million From Partnership With L Catterton Asia and JD.com
July 10 2018 - 6:50AM
Business Wire
L Catterton Asia, the Asian unit of the largest and most
globalized 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 (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 that offers more than 300,000
SKUs covering 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 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. 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 CEO of Secoo.
“Secoo is poised to gain invaluable name recognition and further
boost the Company’s reputation in the international luxury consumer
space. 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.”
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version on businesswire.com: https://www.businesswire.com/news/home/20180710005480/en/
SecooCassie Liu, +86 755-83599993cassie@proexpo.cc
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