Type of business | Public |
---|---|
Type of site | E-commerce |
Available in | Chinese, English |
Traded as | Nasdaq: SECO ( American depository receipts) |
Founded | 2008 |
Headquarters | Beijing, China |
Area served | Worldwide |
Founder(s) | Richard Rixue Li |
Key people |
|
Industry | Internet, online retailing |
Revenue | ![]() |
Net income | ![]() |
URL |
secoo |
Users | 27 million [4] |
Secoo ( Chinese: 寺库; pinyin: Siku) is an online to offline e-commerce platform and the largest online luxury retailer in China.
Secoo was launched as Secoo Jimai in 2008, by Richard Rixue Li. [5] [6] Secoo started out with second-hand luxury as its main product. The company hired a staff of jewellery and luxury goods appraisers to verify their products were genuine. [7] By 2011, Li had 10 small shops in the provinces and opened his first flagship “Secoo” store in Beijing. [5] In January 2011, Secoo website was launched. [5]
On July 19, 2011, Secoo got $10 million on investments from IDG Capital. [8] In April 2012, Secoo closed a Series B found of funding, raising $30 million from IDG Capital Partners, Yintai Investments and Bertelsmann Asia Investments. [9] In August 2013, the company raised more than $30 million in a Series C funding led by Vangoo Capital Partners, with IDG Capital Partners, Ventech Capital and Crehol Capital participating. [10] [11]
Secoo's mobile app was launched in December 2013. [12] In 2013, the company had shops in Beijing, Shanghai, Chengdu and Hong Kong. [13] By 2014, Secoo became China's largest website for individuals buying and selling their luxury goods.[ citation needed] In July 2014, the company raised $100 million in a Series D round of funding from the existing investors and China Media Capital, Ventech China, Crehol Meaningful Capital and Vangoo Investment Partners. [14] [15] [16] In July 2015, the firm completed a $55 million Series E round of funding, led by Ping An Ventures, the venture investment arm of Ping An Insurance. [17] [18] Secoo incorporated representatives companies in the United States (2014) and in Italy (2015). [12] In September 2015, during China Fashion Week, the firm presented its “Fashion+” vision that aimed to open China’ market to European fashion designers. [19] In 2016, Secoo opened its first shop in Johor Bahru, Malaysia. [20]
On September 22, 2017, Secoo began trading on the NASDAQ exchange, after launching its IPO and raising about $140 million. [21] [17] [22]
In January 2018, Secoo signed a collaboration contract with Parkson Retail Group, a major Asian-based department store operator. [23] [24] In July, private equity firm L Catterton and JD.com, one of China's largest online retailers, announced they would invest $175 million in Secoo. [25] [26] JD.com aimed to become Secoo's domestic online retail partner, while L Catterton Asia, was set to provide industry expertise. [27] Later in July 2018, the company appointed Federica Marchionni as its Chief Strategy Officer and International CEO. [2] [28] In November 2018, Secoo was among other leading Chinese retailers which de-listed Dolce & Gabbana items, following the firms’ controversial ads. [29] [30]
In November 2019, the firm established partnerships with the Italian fashion retailer Luisa Via Roma and Prada. [31] [32]
In June 2020, Qudian announced the purchase of $100 million-worth (or 28.9 percent) of Secoo's shares, making it the largest stockholder in the company. [33]
Type of business | Public |
---|---|
Type of site | E-commerce |
Available in | Chinese, English |
Traded as | Nasdaq: SECO ( American depository receipts) |
Founded | 2008 |
Headquarters | Beijing, China |
Area served | Worldwide |
Founder(s) | Richard Rixue Li |
Key people |
|
Industry | Internet, online retailing |
Revenue | ![]() |
Net income | ![]() |
URL |
secoo |
Users | 27 million [4] |
Secoo ( Chinese: 寺库; pinyin: Siku) is an online to offline e-commerce platform and the largest online luxury retailer in China.
Secoo was launched as Secoo Jimai in 2008, by Richard Rixue Li. [5] [6] Secoo started out with second-hand luxury as its main product. The company hired a staff of jewellery and luxury goods appraisers to verify their products were genuine. [7] By 2011, Li had 10 small shops in the provinces and opened his first flagship “Secoo” store in Beijing. [5] In January 2011, Secoo website was launched. [5]
On July 19, 2011, Secoo got $10 million on investments from IDG Capital. [8] In April 2012, Secoo closed a Series B found of funding, raising $30 million from IDG Capital Partners, Yintai Investments and Bertelsmann Asia Investments. [9] In August 2013, the company raised more than $30 million in a Series C funding led by Vangoo Capital Partners, with IDG Capital Partners, Ventech Capital and Crehol Capital participating. [10] [11]
Secoo's mobile app was launched in December 2013. [12] In 2013, the company had shops in Beijing, Shanghai, Chengdu and Hong Kong. [13] By 2014, Secoo became China's largest website for individuals buying and selling their luxury goods.[ citation needed] In July 2014, the company raised $100 million in a Series D round of funding from the existing investors and China Media Capital, Ventech China, Crehol Meaningful Capital and Vangoo Investment Partners. [14] [15] [16] In July 2015, the firm completed a $55 million Series E round of funding, led by Ping An Ventures, the venture investment arm of Ping An Insurance. [17] [18] Secoo incorporated representatives companies in the United States (2014) and in Italy (2015). [12] In September 2015, during China Fashion Week, the firm presented its “Fashion+” vision that aimed to open China’ market to European fashion designers. [19] In 2016, Secoo opened its first shop in Johor Bahru, Malaysia. [20]
On September 22, 2017, Secoo began trading on the NASDAQ exchange, after launching its IPO and raising about $140 million. [21] [17] [22]
In January 2018, Secoo signed a collaboration contract with Parkson Retail Group, a major Asian-based department store operator. [23] [24] In July, private equity firm L Catterton and JD.com, one of China's largest online retailers, announced they would invest $175 million in Secoo. [25] [26] JD.com aimed to become Secoo's domestic online retail partner, while L Catterton Asia, was set to provide industry expertise. [27] Later in July 2018, the company appointed Federica Marchionni as its Chief Strategy Officer and International CEO. [2] [28] In November 2018, Secoo was among other leading Chinese retailers which de-listed Dolce & Gabbana items, following the firms’ controversial ads. [29] [30]
In November 2019, the firm established partnerships with the Italian fashion retailer Luisa Via Roma and Prada. [31] [32]
In June 2020, Qudian announced the purchase of $100 million-worth (or 28.9 percent) of Secoo's shares, making it the largest stockholder in the company. [33]