Secoo Announces Strategic Partnership with SASSEUR Group
September 10 2018 - 8:00AM
Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ: SECO),
Asia's largest online integrated upscale products and services
platform, today announced that it has signed a Memorandum of
Strategic Partnership with SASSEUR Group, a leading operator of
outlets mall in Asia. Building on this strategic, durable and
comprehensive partnership, both parties will leverage respective
resources and expertise to drive the exceptional growth of
omni-channel retail networks, boost both companies’ growing and
leading market presence in the respective field and jointly explore
new business initiatives to offer superior luxury shopping
experience for consumers in China.
Under the Memorandum, Secoo and SASSEUR Group
will be surrounding outlet real estates developed and operated by
SASSEUR across China to establish comprehensive business
cooperations in operation, membership, brands flash sales,
online-to-offline initiatives, consumer financing, luxury products
after-sales services and smart retail model. Especially, both
companies will work together to deploy an integrated omni-channel
network throughout the value chain by sharing resources in
merchandise, brands, membership, payment, consumer financing,
customer service and big data solutions. In addition, both
companies will jointly explore new marketing opportunities
centering around upscale lifestyles, such as luxury culture
discovery tour and luxury debut show, to strengthen their
influences and capabilities among luxury consumers in China’s key
cities and tap into China’s robust luxury market.
“We’re pleased about our strategic alliance with
SASSEUR Group, which demonstrates our continued expansion strategy
with the leading partners,” said Richard Li, Chairman and Chief
Executive Officer of Secoo. “Secoo has been boosting its offline
presence by establishing solid relationships with related industry
leaders to gain invaluable name recognition and pursue excellence
in omni-channel operation, supply chain management and seamless
shopping experience. We are confident in the synergy that Secoo and
SASSEUR are going to create through our partnership.”
Mr. Rongcan Xu, Chairman of SASSEUR Group, said,
“SASSEUR is a leading brand of Chinese outlet industry and the
biggest outlet mall chain brand in Asia. Secoo is Asia’s largest
integrated online and offline luxury products and services
platform. We’re excited to be a strategic partner of Secoo to
jointly create innovative luxury shopping experience among Chinese
consumers and lead the high-end lifestyle with increasingly
affluent middle-class in China.”
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 SASSEUR
Group
SASSEUR Group is one of the premium outlet mall
groups in the PRC, focused on the development and operation of
retail outlet malls in the PRC. It wholly owns SASSEUR Asset
Management Pte. Ltd., who is the manager of SASSEUR REIT (SGX:
CRPU).
As the leading privately-owned outlet mall
operator in the PRC, SASSEUR Group currently manages and operates
nine outlet malls with an overall business area of over 2 million
sqm and more than 1.8 million premium members. Founded in 1989,
SASSEUR Group leverages on its founder Mr Xu Rongcan's passion for
art and culture to develop and design all of its outlet malls,
offering a unique lifestyle experience for its customers. As the
Sponsor's strategic shareholders, L Catterton Asia Advisors and
Pingan Real Estate Company Ltd. ("Ping An Real Estate") are
expected to provide strong endorsement and support. Through L
Catterton Asia Advisors, strategic brand partnerships are forged,
providing a strong basis for growing brand portfolios and future
business opportunities.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and as defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include but are not limited to Secoo management quotes and the
Company’s financial outlook. These forward-looking statements can
be identified by terminology such as “will,” “estimate,” “project,”
“predict,” “believe,” “expect,” “anticipate,” “intend,”
“potential,” “plan,” “goal” and similar statements. Secoo
Holding Limited may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Such
statements involve certain risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
in the forward-looking statements. These forward-looking statements
include, but are not limited to, statements about: the Company’s
goals and strategies; its future business development, financial
condition and results of operations; its ability to attract and
retain new customers and to increase revenues generated from repeat
customers; its expectations regarding demand for and market
acceptance of its products and services; trends and competition in
China’s e-commerce market; changes in its revenues and certain cost
or expense items; the expected growth of the Chinese e-commerce
market; Chinese governmental policies relating to the Company’s
industry and general economic conditions in China. For
additional information on these and other important factors that
could adversely affect the Company's business, financial condition,
results of operations and prospects, please see its filings with
the U.S. Securities and Exchange Commission.
Secoo Holding Limited does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law. All information provided in this
press release and in the attachments is as of the date of this
press release, and Secoo Holding Limited undertakes no duty to
update such information, except as required under applicable
law.For investor and media inquiries, please
contact: In China: Secoo Holding Limited Jingbo Ma Tel:
+86 (10) 6588-0135 E-mail: ir@secoo.comThe Piacente Group, Inc.
Jenny Cai Tel: +86 (10) 5730-6200 E-mail: Secoo@tpg-ir.comIn
the United States: The Piacente Group, Inc. Brandi
Piacente Tel: +1-212-481-2050 E-mail: Secoo@tpg-ir.com
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