Secoo
Secoo is a Chinese online-to-offline luxury-goods retail platform that began in second-hand luxury and expanded into authenticated luxury commerce, physical stores, fashion, and international brand partnerships.
Last updated October 9, 2026
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Overview
Secoo, also known by the Chinese name Siku and initially launched as Secoo Jimai, is a Chinese luxury-commerce platform built around the combination of digital retail, physical stores, authentication, and luxury-goods services. The company was founded in 2008 by Richard Rixue Li, initially focusing on pre-owned luxury products. Its operating model depended on professional appraisal and authentication: Secoo hired specialists in jewelry and luxury goods to examine merchandise before it was offered to customers, addressing one of the central trust problems in the second-hand luxury market. The business developed from a small physical retail presence into an online-to-offline platform. By 2011, it reportedly operated ten smaller shops in Chinese provinces and had opened its first flagship Secoo store in Beijing. Its website launched in January 2011, creating a dedicated online channel for individuals buying and selling luxury goods. Secoo later expanded its physical and commercial footprint to cities including Beijing, Shanghai, and Chengdu, as well as Hong Kong. By 2014, it was described as China's largest website for individuals buying and selling luxury goods. Secoo's growth was supported by successive rounds of venture financing. IDG Capital invested $10 million in July 2011, followed by a $30 million Series B round in April 2012 involving IDG Capital Partners, Yintai Investments, and Bertelsmann Asia Investments. A Series C round in August 2013 brought in more than $30 million from investors led by Vangoo Capital Partners. The company raised a further $100 million in Series D financing in July 2014 and completed a $55 million Series E round led by Ping An Ventures in July 2015. These financings supported technology development, retail expansion, brand relationships, and international activity. The company added a mobile application in December 2013 and began establishing overseas corporate operations, including representative companies in the United States in 2014 and Italy in 2015. In 2015, during China Fashion Week, Secoo presented its Fashion+ concept, which was intended to connect European fashion designers with the Chinese market. It also opened a store in Johor Bahru, Malaysia, in 2016, extending its physical retail model outside mainland China. Secoo became a publicly traded company on NASDAQ on September 22, 2017, raising approximately $140 million through its initial public offering. After the listing, it pursued broader retail and strategic relationships. In January 2018, it signed a collaboration agreement with Parkson Retail Group. Later that year, JD.com and L Catterton announced a combined investment of $175 million. JD.com was expected to become Secoo's domestic online retail partner, while L Catterton was positioned to contribute luxury-industry expertise. Secoo also appointed Federica Marchionni as chief strategy officer and international chief executive in July 2018. The platform continued to develop international brand connections. In November 2019, it established partnerships with Italian luxury retailer Luisa Via Roma and Prada. In June 2020, Qudian announced the purchase of approximately $100 million worth of Secoo shares, representing 28.9 percent and making Qudian the company's largest shareholder according to the cited reference material. Secoo's documented business scope therefore spans authenticated pre-owned luxury goods, new luxury and fashion retail, mobile and web commerce, stores, designer and retailer partnerships, and cross-border luxury distribution. The available reference material does not establish the company's current operating status, ownership structure, or website, so those fields remain unresolved.
History
Secoo was launched as Secoo Jimai in 2008 by Richard Rixue Li. Its initial business centered on second-hand luxury goods, a category in which authenticity and condition are critical to customer confidence. To support this proposition, the company employed jewelry and luxury-goods appraisers to verify merchandise before sale. The model combined resale with professional evaluation rather than treating the business as an unmoderated peer-to-peer marketplace. The company began developing a physical retail network alongside its digital business. By 2011, it reportedly had ten small shops in Chinese provinces and had opened its first flagship Secoo store in Beijing. Its website launched in January 2011. The combination of stores, online listings, appraisal capabilities, and customer services formed the basis of Secoo's online-to-offline approach. By 2013, the company had stores or operations in Beijing, Shanghai, Chengdu, and Hong Kong. In December of that year, it launched a mobile application. By 2014, Secoo was described as China's largest website for individuals buying and selling luxury goods. Secoo's expansion was accompanied by multiple financing rounds. IDG Capital invested $10 million in July 2011. In April 2012, Secoo closed a $30 million Series B round backed by IDG Capital Partners, Yintai Investments, and Bertelsmann Asia Investments. In August 2013, it raised more than $30 million in Series C financing led by Vangoo Capital Partners, with participation from IDG Capital Partners, Ventech Capital, and Crehol Capital. A $100 million Series D round followed in July 2014, involving existing investors and China Media Capital, Ventech China, Crehol Meaningful Capital, and Vangoo Investment Partners. In July 2015, Ping An Ventures led a $55 million Series E round. The company also began formalizing an international footprint. It incorporated a representative company in the United States in 2014 and another in Italy in 2015. During China Fashion Week in September 2015, Secoo presented its Fashion+ vision, which sought to bring European fashion designers to Chinese consumers. In 2016, it opened its first shop in Johor Bahru, Malaysia. These moves reflected an effort to evolve from a domestic second-hand marketplace into a broader cross-border luxury and fashion platform. On September 22, 2017, Secoo began trading on NASDAQ after an initial public offering that raised approximately $140 million. In January 2018, it entered a collaboration with Parkson Retail Group. In July, JD.com and L Catterton announced a $175 million investment. The proposed relationship gave JD.com a role as Secoo's domestic online retail partner, while L Catterton was expected to contribute sector knowledge and strategic support. That month, Secoo appointed Federica Marchionni as chief strategy officer and international chief executive. The platform's brand relationships remained an important part of its strategy. In November 2018, it removed Dolce & Gabbana products in the wake of a controversy involving the brand's advertisements, joining other prominent Chinese retailers. In November 2019, Secoo formed partnerships with Luisa Via Roma and Prada. In June 2020, Qudian announced that it had purchased approximately $100 million worth of Secoo shares, equivalent to 28.9 percent, and had become the largest shareholder according to the cited material. The available reference does not establish Secoo's subsequent operating condition, current ownership beyond the 2020 announcement, current executive team, or present trading status. Those matters therefore remain open for verification.
- 2020
Qudian becomes the largest shareholder
[1]Qudian announces the purchase of 28.9 percent of Secoo shares for approximately $100 million.
- 2018
Parkson, JD.com, and L Catterton relationships
[1]Secoo collaborates with Parkson Retail Group and receives announced strategic investment from JD.com and L Catterton.
- 2017
NASDAQ listing
[1]Secoo begins trading on NASDAQ after an IPO that raised approximately $140 million.
- 2016
First Malaysian shop opens
[1]Secoo opens its first shop in Johor Bahru, Malaysia.
- 2015
Fashion+ vision is presented
[1]Secoo presents a concept aimed at introducing European fashion designers to Chinese consumers.
- 2014
Secoo is described as China's largest individual luxury resale website
[1]The company reaches a leading position in China's online buying and selling market for individual luxury goods.
- 2013
Mobile application launches
[1]Secoo adds a mobile application to its website and store network.
- 2011
Website and Beijing flagship expand the business
[1]Secoo launches its website, operates approximately ten smaller shops, and opens its first flagship store in Beijing.
- 2008
Secoo is launched as Secoo Jimai
[1]Richard Rixue Li launches the business with a focus on second-hand luxury goods and professional authentication.
Products and positioning
A China-focused online-to-offline luxury retailer combining authenticated pre-owned goods, new luxury fashion, physical stores, mobile commerce, and international brand access.
Luxury resale · 2008
Pre-owned luxury goods
Secoo began with second-hand luxury as its principal category. The platform's model included appraisal and authentication by staff specializing in jewelry and luxury goods, helping establish trust in the provenance and condition of merchandise offered to individual buyers and sellers.
Luxury retail
New luxury fashion
As Secoo developed beyond resale, it expanded into the sale of new luxury and fashion products. Its partnerships with international retailers, designers, and brands supported a wider assortment than the original second-hand marketplace.
E-commerce platform · 2011
Secoo website and marketplace
Launched in January 2011, the website provided an online channel for luxury-goods discovery, buying, and selling. It operated as part of Secoo's online-to-offline model, which connected digital commerce with stores and authentication services.
Mobile commerce · 2013
Secoo mobile application
The mobile application, launched in December 2013, extended Secoo's marketplace and retail access to smartphones and complemented the company's website and physical-store network.
Fashion platform concept · 2015
Fashion+
Fashion+ was a strategic concept presented during China Fashion Week in 2015. It aimed to help European fashion designers reach the Chinese market and reflected Secoo's attempt to broaden its identity from luxury resale into international fashion retail.
Controversies
Marketing campaigns
- 2015Fashion+
China · Europe
Secoo presented Fashion+ during China Fashion Week as a vision for connecting European fashion designers with China's consumer market.
Outcome. The available reference does not provide a measured commercial outcome.
Brand decisions
2020
Qudian announces acquisition of a major Secoo stakeM&ABackground
Qudian sought a substantial ownership position in Secoo.
Action taken
Qudian announced the purchase of approximately $100 million worth of shares, equivalent to 28.9 percent of Secoo.
Aftermath
Qudian became Secoo's largest shareholder according to the cited reference.
Purchase value and ownership stake. approximately $100 million for 28.9 percent (June 2020)
2018
Secoo accepts announced investment from JD.com and L CattertonM&ABackground
Secoo sought to strengthen domestic online distribution and obtain additional luxury-industry expertise.
Action taken
JD.com and L Catterton announced a combined $175 million investment; JD.com was intended to serve as a domestic online retail partner and L Catterton as an industry adviser and strategic investor.
Aftermath
The announcement expanded Secoo's relationship with a major Chinese e-commerce company and a global luxury-focused investment firm.
Announced investment. $175 million (July 2018)
2018
Secoo removes Dolce & Gabbana merchandiseOtherBackground
Dolce & Gabbana faced controversy over advertising in China.
Action taken
Secoo joined other leading Chinese retailers in delisting Dolce & Gabbana items.
Aftermath
The action aligned Secoo with the broader retail response described in the reference material.
2017
Secoo pursues a public listing on NASDAQStrategyBackground
After several rounds of private financing and international expansion, Secoo sought public-market capital.
Action taken
The company launched an IPO and began trading on NASDAQ on September 22, 2017, raising approximately $140 million.
Aftermath
The listing made Secoo a publicly traded luxury-commerce company, although the available material does not establish its later trading status.
IPO proceeds. approximately $140 million raised (September 22, 2017)
Recent events
Court permits withdrawal of bankruptcy liquidation application against Secoo[2]
Reported:
The Beijing No. 1 Intermediate People's Court permitted applicant Chai Chenxu to withdraw the bankruptcy liquidation application against Beijing Secoo Trading Co., Ltd. Secoo separately confirmed that the application had been withdrawn.
Secoo appoints Qudian executive Zhu Qi to its board[3]
Reported:
Secoo's board approved the appointment of Zhu Qi as a board member, effective immediately. Zhu Qi is identified as a Qudian vice president.
SEVENFRIDAY establishes an exclusive store on Secoo[4]
Reported:
SEVENFRIDAY established a dedicated flagship store on Secoo, where it exclusively listed multiple products, including the limited-edition S1-03 automatic mechanical watch.
Secoo launches two-hour express delivery in Beijing[5]
Reported:
Secoo Holding Limited launched a two-hour express delivery service in Beijing on February 5, 2020. Customers in Beijing can order eligible products through the Secoo app for delivery within two hours, subject to the stated daily delivery hours.
Secco and Ultrain announce strategic cooperation[6]
Reported:
Secco and Ultrain reached a strategic cooperation agreement focused on trust computing, according to the source headline.
Secoo reports third-quarter 2019 results[7]
Reported:
Secoo reported third-quarter 2019 revenue of RMB 1.9416 billion, up 23.5% year over year, and net income of RMB 62.1 million, up 38.3%.
Medica Natumin products debut and go on sale on Secoo[8]
Reported:
Medica Natumin’s product lines, including dietary supplements, medical devices and skincare products, made their domestic debut and went on sale on the Secoo Mall app.
Secoo and Medica Natumin form a strategic partnership in China[8]
Reported:
Secoo and Nordic healthcare group Medica Natumin formed a strategic partnership, with Secoo becoming its designated exclusive partner in China.
Sources11 sources
- 1Secooen.wikipedia.org
- 2法院准许撤回对寺库的破产清算申请tech.cnr.cn
- 3寺库任命趣店高管祝祺为董事会成员finance.sina.com.cn
- 4SEVENFRIDAY入驻寺库并设立专属旗舰店finance.sina.com.cn
- 5寺库在北京推出两小时快递服务prnewswire.com
- 6寺库与Ultrain达成战略合作finance.sina.com.cn
- 7寺库发布2019年第三季度业绩finance.sina.com.cn
- 8Medica Natumin产品在寺库商城APP国内首发并开售finance.sina.com.cn
- 9寺库报告未经审计的2020年第二季度业绩 再次进入盈利赛道finance.sina.com.cn
- 10寺库营收同比增长13.8%，但奢侈品电商隐忧仍在tech.sina.com.cn
- 11寺库Q4净利润下降9.5%至4370万元，GMV同比增五成至46.79亿元finance.sina.com.cn
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