BEIJING, Dec. 4, 2018 /PRNewswire/ -- 4 December
2018, Secoo (NASDAQ: SECO) announced 2018 Q3 unaudited financial
report officially today. GMV reached US$319.5 million, increased 57.4% compared to
2017 Q3. Moreover, total net revenue reached US$228.9 million, increasing by 60.1%. The number
of active customers increased by 92.4% to 304 thousand for Q3 2018
from 158 thousand for Q3 2017.
The increase figures demonstrate that Secoo is on the right
track and the luxury market in China is still promising. The Founder and CEO
of Secoo, Rixue Li mentioned that Secoo is delighted to report
third quarter 2018 results, another chapter of Secoo's strong
growth story, highlighted by year-over-year GMV growth of 57.4% and
total revenues growth of 60.1%. Secoo attributes this robust
performance to ability of leveraging its premium and diverse
product and service offerings and industry-leading capabilities to
gain deep footholds across the value chain in the industry. In
addition, Secoo's innovative and cutting-edge online-to-offline
marketing activities and strategic focus on expanding alliances
with leading partners contributed to the robust quarterly growth.
Notably, the number of active customers increased by 91%
year-over-year to a record high of 300,000 during the quarter.
Further, from a technology perspective, Secoo continued to support
more effective, advanced and efficient operations for the
omnichannel platform, which Secoo will lay a solid foundation for
sustainable future growth.
Mr. Li also said that Secoo continued to broaden and deepen
alliances with premiere designers to further enhance product
offerings and expand influence. In doing so, Secoo remained
strategically active, entering into partnerships with 97 new brands
throughout the quarter and recent months. These important
partnerships serve not only as a means to increase Secoo's brand
recognition among Chinese luxury and fashion consumers but also as
a way to continue to offer superior luxury shopping experiences. As
always, Secoo continues its ardent focus on providing the best
shopping experience for customers.
During the third quarter of 2018, Secoo expanded its direct
collaborations efforts, adding 97 brands, including renowned
international fashion and lifestyle designers such as Calvin Klein, R. M. Williams, DIESEL,
Nicole Miller, Alberta Ferretti, Philosophy , Mikael D,
Villeroy & Boch, Marshall and LVMH's new beauty brand Cha Ling.
Further, Secoo's advertising sales grew substantially, driven by a
further increasing advertiser base, including Huawei Glory, Land Rover, Smart, Dunhill, COFCO,
Haier, and DBS Bank.
In September 2018, Secoo entered
into a strategic partnership agreement with SASSEUR Group, a
leading operator of outlet malls in Asia, allowing both parties to leverage each
other's resources and expertise to drive the growth of omni-channel
retail networks, boost both companies' growing and leading market
presence and jointly explore new business initiatives to offer
superior luxury shopping experience for consumers in China.
Besides, in September, Secoo co-hosted the inaugural "Chinese
Heritage Design Festival" in Beijing. The event featured a fusion of
traditions and fashion among many Chinese master artisans,
traditional craftsmen and the most cutting-edge Chinese designer
brands.
Moreover, Secoo entered into a partnership with Feelunique,
Europe's largest online beauty
retailer, to launch a dedicated cosmetics store on Secoo's
platform. Through the partnership, Feelunique will provide Secoo's
customers with access to approximately 50 highly sought-after
international brands, which helps bolster Secoo's beauty and
cosmetics product portfolio.
In ten years, Secoo leads the trend in luxury e-commerce
industry and keep continuing to provide premium products and
services to its high-end consumers. Secoo is also making a
revolution from a luxury shopping-focused online platform to become
a full-fledged lifestyle brand. As Asia's largest premium lifestyle platform,
Secoo launched a lush new brand campaign emphasizing its luxury DNA
and Chinese identity. In the future, Secoo will gain greater
industry recognition, attract more leading luxury brands and plan a
comprehensive global strategic layout. The multipronged business
strategy positions Secoo well to deliver strong growth in the
immediate future and over the long run.
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SOURCE Secoo Group