A focus on weeding out fake branded goods is paying dividends for Chinese online luxury goods retailer Secoo.
With nine certified luxury-goods identification centres, Secoo now guarantees its products are genuine.
Founder/CEO Li Rixue says that after eights years of work on identifying counterfeit goods, the centres have plenty of data and expertise to ensure it can weed out fakes. As well as Hong Kong, Tokyo, New York and Milan, the centres are in Beijing, Shanghai, Changsha, Chengdu and Shenzhen.
As part of its expansion, Secoo is aiming to help more Chinese brands go international, Li tells China Daily, as well as developing partnerships with global brands.
Secoo, which listed on the US Nasdaq index in September, has three offline experience centres in China and one in Malaysia, and plans another five in China. “Some overseas centres also will be set up in the next few years. These will not only sell merchandise, but can also be used as a gym, yoga club, photography studio, tea room and pub,” says Secoo Luxe CEO Chen Jianhao. “Customers can try out all the products in these centres.”
He says “a batch of famous brands” including Diane Von Furstenberg and Versace will be signing agreements for online/offline partnerships so customers can order on Secoo and pick up products at the brands’ offline stores.
Meanwhile, according to its unaudited financial report, Secoo’s third-quarter net income surged 902.9 per cent from a year earlier to US$5.1 million, with revenue up 44.2 per cent to $147.6 million.