China’s largest luxury platform Secoo is partnering with Parkson Retail Group to offer shoppers reciprocal membership benefits in each firm’s loyalty program.
The partnership is expected to help drive omnichannel services and joint business development. The plan is for both companies to offer their products in Secoo’s experience centers and in Parkson’s stores. The omnichannel services will offer products on each other’s web sites and allow orders to be collected in Parkson’s store. Further, the reciprocal membership benefits for shoppers are expected to include coupons to spend in stores and online, as well as access to exclusive offers. The two would also integrate their online and off-line platforms to provide shoppers with new payment options for their purchases.
Richard Li, Secoo’s chief executive officer, said, “As omnichannel experiences and services increasingly drive growth in the global luxury industry, Chinese luxury customers will choose the most seamless and luxurious shopping experiences.
“This strategic partnership with Parkson will not only elevate the online-to-off-line experience for our highly discerning customers, but it will also bring deeper benefits for both companies’ members that we hope will surprise and delight them in equal measure,” he added.
Secoo is China’s largest premium e-commerce platform offering an integrated online and off-line shopping platform via Secoo.com, mobile applications and nine off-line experience centers. The centers are located in eight Chinese cities — Beijing, Shanghai, Chengdu, Tianjin, Qingdao, Xiamen, Changsha, Hangzhou — and in Malaysia. Combined, the integrated platform offers more than 300,000 stockkeeping units across 3,000 global and domestic brands, according to the company.
Secoo said it has a proprietary database of luxury products that, combined with authentication procedures and brand cooperation, allows it to ensure authenticity and quality of all products offered on its platform.
Secoo said the partnership furthers the “5+2+1” strategy the firm disclosed in November to deepen its omnichannel concept for luxury customers. The strategy’s aim is to synchronize Secoo’s supply chain with the physical stores of luxury fashion brands, as well as offer customized suites in boutique hotels for customers to experience and sample the retailer’s products.
The Chinese luxury lifestyle platform company was founded in 2008 and completed its initial public offering in the U.S. in September, raising $140 million. Shares trade on the Nasdaq under the symbol “SECO.”
Parkson is the retail arm of Malaysia’s Lion Group. It opened its first high-end department store in China in 1994 in Fuxingmen, Beijing. The company operates 44 department stores across 20 provinces in 31 Chinese cities.