Luxury Chinese e-tailer Secoo appoints Federica Marchionni as CEO of Secoo International
Luxury Chinese e-tailer Secoo has appointed Federica Marchionni as CEO of Secoo International and as the Secoo group’s Chief Strategy Officer. Marchionni’s appointment comes two weeks after the announcement of an investment of nearly €150 million made by JD.com and L Catterton (the investment fund backed by the LVMH and Arnault groups) in Secoo, to boost the e-tailer’s presence on new international markets.
Marchionni was President of Dolce & Gabbana for more than three years, until February 2015, then was the CEO of Land’s End, a US apparel e-tailer listed on the Nasdaq stock market, for two years, before taking charge of Secoo International in July. She is a manager with extensive luxury industry experience, and is tasked with leading Secoo’s international expansion.
“Ms Marchionni and I embrace the same values and vision to lead Secoo to become an internationally recognised iconic multiplatform, bringing the best products and services to our customers around the globe,” stated Richard Li, CEO and founder of the Secoo group in a press release.
Secoo was created in 2011, and currently claims 20 million registered customers (between active and inactive users) in China. It distributes 3,000 different brands with a range of 300,000 models. Among the brands retailed by Secoo are Roger Vivier, Versace and Prada, and the e-tailer claims to have had the highest average purchase basket among equivalent e-commerce sites in Asia in 2017. Secoo’s net revenue from January 1 to December 31 2017 reached €491 million (a rise of 44.2% over 2016) with a total of 1,437,000 orders in the year.
In early July, JD.com and L Catterton Asia injected fresh capital to the tune of €149.4 million in the Chinese e-tailer. A few days later, Secoo also announced a distribution partnership deal, including a data analysis and sharing agreement, with the Shandong Ruyi group, notably the owner of French fashion group SMCP since 2016.
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