Secoo signs exclusive European footwear deal
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Chinese lifestyle platform Secoo Holding has signed a deal to be the exclusive partner in China for the European Confederation of the Footwear Industry (CEC).
With the agreement covering more than 100 European footwear brands, Secoo Group has secured the exclusive China rights to 87 per cent of the supply of European premium footwear.
Representing the footwear industry in the European Union, CEC has a membership that includes companies in 18 EU countries as well as five countries in Central and Eastern Europe. They include leading brands from Italy, France, Sweden and the UK.
CEC sees China as its next major opportunity. President Cleto Sagripanti says many European footwear brands lack access to rapidly growing markets such China.
“Secoo already has wide access to China’s high-end customers and, at the same time, provides protection for our intellectual properties.”
Secoo has 15.4 per cent of the Asian market, as well as a quarter of the high-end online market in China.
With nine years in the business, the platform has 15 million registered users with the average purchase per customer exceeding RMB3500 (US$520), and 300,000 SKUs in stock.
Questions & Answers
Q.Why does the European Confederation of the Footwear Industry view Secoo as a suitable partner for expansion into China?
Why does the European Confederation of the Footwear Industry view Secoo as a suitable partner for expansion into China?
CEC President Cleto Sagripanti stated that many European brands lack access to fast-growing markets like China. Secoo offers wide access to high-end customers and intellectual property protection.
Q.How large is Secoo's customer base and what is their average spending per purchase?
How large is Secoo's customer base and what is their average spending per purchase?
Secoo has 15 million registered users on its platform, which has been in business for nine years. The average purchase per customer exceeds RMB3500, equivalent to US$520.
Q.Which countries are represented within the European Confederation of the Footwear Industry's membership?
Which countries are represented within the European Confederation of the Footwear Industry's membership?
CEC's membership includes companies from 18 EU countries, along with five countries in Central and Eastern Europe. These include leading brands from Italy, France, Sweden and the UK.
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