Secoo Signs a Strategic Partnership with Meitu to Operate Meitu's Beauty APP

BEIJING, Nov. 22, 2018 /PRNewswire/ -- Secoo (NASDAQ: SECO) and Meitu signed a strategic partnership. The Meitu beauty application will be operated by TryTry, Secoo's luxury rental application. TryTry will be responsible for all the Meitu beauty application's business management, including branding promotions, product purchasing, sales, delivery and customer service.

The Founder and CEO of Meitu, Wu Xinhong, stated that the combination of Meitu makeup with Secoo and TryTry is an adjustment of Meitu's e-commerce strategy. This tripartite cooperation takes full advantage of Meitu, Secoo and TryTry. It combines the leading AI skin testing technology and massive platform users of Meitu, excellent luxury services and supply chain technology of Secoo, and a new operation mode of TryTry to provide consumers with a higher quality shopping experience. Based on its "Beauty and Social Media" strategy, Meitu will also benefit from a core platform strategy, connecting and serving consumers and merchants, and constantly working with premium partners to release more consumer value.

The Founder and CEO of Secoo, Li Rixue, said that as a leading premium lifestyle platform in Asia, Secoo has many partnerships with premium brands, and offers high quality service for consumers. The cooperation between the two companies will integrate Meitu's advanced AI skin testing technology into Secoo's high-quality supply chain and consumer service, providing a higher quality and more comprehensive shopping experience for consumers in both platforms. Meitu takes "Beauty and Social Media" as its development strategy, which highly matches the concept of Secoo to deliver premium products and services to consumers. Secoo and Meitu share the same vision of establishing a multi-platform for consumers, merchants and services. The cooperation of Secoo, TryTry and Meitu will work together to improve an innovative experiential service.

Meitu has a leading AI skin testing technology, the largest high-quality female group in China, and a high premium brand image. During the cooperation, Meitu will enjoy the benefit of both guaranteed income and shared income. In the future, the APP matrix under Meitu Corporation will continue to provide an in-depth service for Meitu beauty app, Secoo and TryTry.

For Meitu, this partnership is an extension of the previous e-commerce business adjustment. Meitu has revealed that the company will continue to provide relevant e-commerce services, focusing on the needs of consumers. Meitu also said that its business model will be more open and focus on the platform business to connect and serve consumers and merchants.

As Asia's largest premium lifestyle platform, Secoo is an omni-channel shopping platform that supports easy product selection, order processing, and convenient payment methods. Secoo complements its online platform with offline experience centers to provide superior customer service. Moreover Secoo has attracted a broad base of suppliers of upscale products, including brands, authorized distributors, individual and corporate suppliers. Secoo's comprehensive global supply chain is designed to meet the diverse purchase preferences and needs of its customers, varying from seasonal luxury products, to highly sought-after classic styles, and vintage or rare products.

SOURCE Secoo Group