Secoo (NASDAQ:SECO), China’s largest premium ecommerce platform, has set up a ‘designer channel’ in an effort to enhance its influence in the fashion world and to help promote more Chinese indie designers on the global stage. Secoo has launched its plan for cooperating with the TOP100 Global Designers Alliance during 2018’s Shanghai International Fashion Week Opening Ceremony on March 27. TOP100 designers will provide the ‘designer channel’ with cutting-edge fashion, and these items will be easily accessible to Secoo’s 18 million high-net-worth consumers. Additionally, the designer channel will arrive offline to the public in April by a joint agreement with Shanghai’s reputed fashion exhibitor, ONTIMESHOW.
To support artists and designers connecting with the global market, Secoo has established the ‘Good Life Industry Investment Fund’ with RMB 200 million. Secoo is in a good position to invest in the initiative. As of March 22, its unaudited Q4 fiscal report shows that full-year GMV reached USD 808.8 million, constituting a increase of 51.6% over 2016.
According to Eric Chan, CEO of Secoo Luxe, the company’s business arm, the company has been keen on cultivating Chinese designers. There is no doubt that its ‘designer channel’ will help to expand Secoo’s impact on fashion trends.
Secoo’s interest in boosting Chinese designers fits into the country’s big-picture attempt to promulgate Chinese design on the global market. Industry insiders said that China’s current “One Belt, One Road” initiative will help open a window to Chinese design to make inroads abroad. Since 2000, more than 200 Chinese institutions and colleges have set up majors related to design and fashion. Now, by forming an official level of collaboration with countries with renowned fashion cultures, such as France, Italy and England, young Chinese designers have more opportunity to gain exposure on the international stage.
Secoo is seeking to develop an influential platform for designers abroad and at home, Chan said. They expect to work with top Chinese designers in the industry. By using its ‘designer channel’, Secoo aims to promote Chinese design to the broad global market as well as to provide its 1.8 million premium consumers with even more original Chinese-designed products. At present, 80% of products sold on Secoo originate from foreign countries, while Secoo’s future focus is to promote more Chinese brands abroad.
In the future, Secoo plans to work closely with leading fashion designers. Earlier, Secoo launched a campaign named ‘Global Designer Brand Partnership’ with 50 globally leading design brands, including Artelier, Aspinal, Giovanni Raspini, Olive and others.
(Top photo from Secoo)