Two major Asian enterprises operating in the textile and garment industry in China are joining hands to bolster better business advancements together. Luxury products and services platform Secoo is entering a strategic partnership with Shandong Ruyi Group, a leading holdings firm of fashion, luxury clothing and accessories brands.
The hence forged alliance will enable both entities in sharing comprehensive knowledge of each other’s domain while also using each other’s branding, technology, network and channel management resources. This is turn will lead to the development of a vertically integrated omni-channel supply chain.
“Secoo’s integrated online and offline shopping platform, which consists of Secoo.com, mobile applications and offline experience centres, has attracted approximately 20 million customers,” said Yafu Qiu, Chairman of Ruyi Group in a statement. Qiu further added that combining Secoo’s reach with a multitude of their brand assets that include recently acquired brands like Sandro, Maje and Claudie Pierlot (SMCP collective) will effectively ‘synergize and unlock unparalleled opportunities in the market.’
Speaking of the collaboration, Richard Li, Founder and CEO of Secoo chimed in, “Secoo will cooperate with the Ruyi Group in a variety of retail innovations ranging from big data solutions to smart manufacturing to unique first-class shopping experiences for our premium customers.”
The Secoo Group, established in 2008, recently received US $ 175 million in investment funding from L Catterton Asia and JD.com to help spearhead its growth in the region.
Ruyi Group owns majority shares leading luxury brands like Hong Kong’s Trinity Group that runs popular menswear labels like Cerruti 1881, Gieves & Hawkes and Kent Curwen as well as British trench coat brand Aquascutum, among many others.
