Secoo, the first Chinese luxury goods e-retailer and platform (NASDAQ:SECO) experienced a fall in their initial stock price when they were listed on the NASDAQ for the first time on September 22. —
IDG Capital,one of the major investors of Secoo, remains optimistic about the company's future. Jeacy Yan, Partner IDG Capital, expressed firm confidence in a recent interview with a journalist from Sina.
“IDG Capital took part in each round of Secoo's A-E investment” said Jeacy Yan , “The current up and down of the stock price may be just a reflection of the short term hedge funds who only focus a short term of money making , while we will keep investing in Secoo in a long run.”
Secoo is currently the largest in in their niche market, and has differentiated themselves with their unique offline business modal which has prove to meet the high-value customers’ shopping needs in their smooth operation for over nine years in China. The offline store becomes lifestyle experience center, showcasing the goods in a unique, omni-channel approach. Their long-term globalization in their full supply chain makes them a promising candidates for American investors.
She assured the biggest online portal that building market confidence takes times, and Secoo has reported profits for three quarters in a row and will continue to increase profit margin.
When pressed about whether they will sell their stake once restrictions are lifted, Yan explained, “Secoo has continuously been undervalued because the world outside China does not understand the company. They will enhance communication with the market on their competence as a luxury omni-platform while maintaining a high-performance value, there's no doubt that the stock price will rise. IDG Capital currently holds a 18.5% stake in Secoo. We will not sell the shares, because really, they have just started out.”
About Secoo: Secoo has more than 15 million high-end registered members, to create the most trusted, global online and offline boutique lifestyle platform. Since its founding in 2008, SECOO has become the biggest online luxury goods provider in China, with a successful mobile app and experiential stores in Beijing, Shanghai, Chengdu, Hong Kong, Milan, Malaysia. They aim to sell the lifestyle experience of luxury goods.
Name: Xiaoxu XU
Email: Send Email
Organization: SECOO Group
Address: F15-F16, Bld C, Galaxy SOHO, Chaonei Street, Dongcheng District, Beijing 100000, P. R. China
Phone: +8610 6588 0135
Release ID: 259001