BEIJING, Sept. 15,
2022 /PRNewswire/ -- Secoo Holding Limited
("Secoo" or the "Company") (NASDAQ: SECO), Asia's leading online integrated upscale
products and services platform, today announced that it has
established in-depth strategic cooperation with Aladdin Legend
Technology Co., Ltd., and will strategically cooperate with Secoo
Group in three steps, with an investment amount of up to
1.3 billion RMB. Aladdin
Technology Group committed to investment in and development of
innovative businesses in the fields of community economy and
industrial Internet. The two companies will jointly explore
business opportunities in luxury shopping and value-added services,
tapping into community economy meanwhile providing support for a
fast-growing portfolio of China's
domestic brands, with Aladdin Technology contributing its capital,
talent and technological strengths and Secoo leveraging its
resources and expertise in high-end fashion supply chain and sales
channels.
The in-depth strategic cooperation between Aladdin Technology
Group and Secoo Group is divided into three parts: First, the
establishment of "Secoo China Club", Aladdin Technology Group will
invest up to 100 million RMB, and
together with Secoo, it will lay out the high-end consumption
circle and jointly develop second-hand Luxury goods transactions.
In addition, the two parties will simultaneously promote the
establishment of the "China Department Store Home" public circle,
and through the empowerment of the community economy, it will help
local enterprises to generate international brands in the field of
boutique consumption and enhance their global influence; 2. The
Aladdin Technology Group will make a strategic investment of up to
200 million RMB, and carry out
in-depth cooperation by subscribing for the main shares of Secoo
listed on the stock market. 3. With up to 1
billion RMB, we will join hands with Secoo to go overseas to
promote the innovation and upgrading of services in the global
luxury industry. The specific cooperation and transaction content
of the above three parts shall be agreed upon by the two parties
separately signing relevant agreements.
About Secoo Holding Limited
Secoo Holding Limited ("Secoo") is Asia's leading online integrated upscale
products and services platform. 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 420,000 SKUs, covering
over 3,800 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.
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SOURCE Secoo Group