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.