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Comprehensive Business Ecosystem Improving the Shopping Experience

By Apac CIO Outlook | Tuesday, May 14, 2019

According to Frost & Sullivan Research Institute, SECOO Group now has become the number one market share premium online retailer in China (25.3 percent) as well as in Asia (15.4 percent). Secoo Group is a leading online-offline premium lifestyle platform listed in NASDAQ under the symbol of SECO and has a complete commercial high-end ecology. Secoo has a comprehensive business eco-system which includes Secoo Luxe, Secoo Finance, and Secoo Smart. Meanwhile, this group owns the largest luxury authentication team and China’s largest authentication database. Secoo Luxe offers more than 200 thousand premium products and services in different categories, such as leather handbags, watches, clothes & accessories, premium travel, fine wine & food, luxury cars, and private jets. The physical experience stores opened in central locations such as Hong Kong, Milan, and Malaysia offer a multi-faceted global service to more than 16 million high-end users in Beijing, Shanghai, Chengdu, Qingdao, and Tianjin. To develop a complete boutique business circle, Secoo has three main core sections: Temple Library Business, Temple Library Finance, and Temple Library Intelligence. For high-end users, Temple Library Finance creates convenient and efficient cross-border financial consumer services for high-end consumers through supply chain finance and consumer finance and delivers cross-border high-value payments, multi-currency exchanges and cross-border purchase tax rebates. Secoo Group offers one-stop life solution to more than 16 million consumers worldwide.

As China’s largest online shopping platform, Secoo Group collaborates directly with over 3000 premium international brands like Versace, Salvatore Ferragamo, Lamborghini, and others. In addition, Secoo will increase its trustworthiness using blockchain technology, machine learning, Internet of things, and mobile applications.

Secoo—Asia’s largest e-commerce luxury platform—has announced a strategic partnership with Oracle in China to launch a new office automation system to enhance Secoo's strategic development and technology upgrades. This collaboration will greatly enhance efficient accounting processes, integrated business, and financial systems and deliver unrivaled, critical productivity; on the other hand, Oracle Cloud Platform, Oracle ERP Cloud, and Oracle SCM Cloud provide a better working environment to improve the global strategy profile. Oracle, the world's largest enterprise-level software company, will implement Oracle's cloud solutions for Secoo's ERP and HCM management systems in conjunction with Accenture, which is the world's leading management consulting and IT providers. Based on China data protection regulations and combined with the management consulting service of Accenture, the new system will enhance Secoo's technological capabilities, operating efficiency, and cross-border business management and inevitably accelerate its globalization strategy. Oracle will be using AI data analysis and smart deployment to overcome data barriers between departments and develop multidimensional business management. With Oracle’s support, Secoo will further develop its premium lifestyle platform and improve the shopping experience for the consumers.