The renowned multibrand retailer LuisaViaRoma, headquartered in Florence, has recently announced a strategic partnership with Secoo, a leading luxury e-tailer in China. This collaboration marks a significant milestone in the internationalization efforts of both companies, with plans slated to commence by mid-June.
By joining forces with Secoo, LuisaViaRoma aims to connect approximately 500 out of its 600 featured brands with the vast customer base of upscale consumers on Secoo’s platform. This will not only expand the reach of brands available on LuisaViaRoma’s e-shop but also enhance their exposure in the Chinese market. In return, Secoo will lend its expertise in mobile payments, order fulfillment, and logistics to LuisaViaRoma.
Last year, LuisaViaRoma unveiled a comprehensive global expansion strategy, focusing on forging partnerships with key international entities to fuel growth in promising markets. Concurrently, Secoo, established by Rixue Li in 2008, is also keen on venturing into international territories, evident through the establishment of a branch in Milan and the appointment of Federica Marchionni as the international general manager.
Marchionni emphasized that the collaboration with Secoo’s 27 million high-end consumers presents a mutually advantageous opportunity for both entities. This strategic alliance enables the two companies to capitalize on the burgeoning opportunities within China’s digital landscape, thereby solidifying LuisaViaRoma’s foothold in the region while deepening Secoo’s relationships with luxury brands. Secoo boasts an extensive product portfolio encompassing watches, automobiles, and over 3,000 international and Chinese brands.
In 2018, Secoo reported a revenue of $783.6 million, signifying a remarkable 44% growth from the preceding year. On the other hand, LuisaViaRoma recorded a revenue of €124 million during the same period, with online sales contributing to 95% of the total revenue. As part of its 90th-anniversary celebrations, a grand showcase is scheduled to take place in Florence during Pitti Uomo, orchestrated by the esteemed Carine Roitfeld.
The partnership between LuisaViaRoma and Secoo underscores a strategic shift towards global expansion and capitalizing on digital avenues within the luxury retail landscape. This collaboration is anticipated to yield mutual benefits and propel both companies to unprecedented heights in the fashion and e-commerce realms.
For more information, visit LuisaViaRoma and Secoo. LuisaViaRoma | Secoo
