Chinese luxury B2C site Secoo raised a new round of US$ 30 million from investors including VentechCapital(a France-based investment firm), IDGVC Partners, Bertelsmann Asia Investments and CreholChina.
Founded in 2008, Secoo is an online consignment store for luxury items. One can either buy directly from its website, or go directly to its brick-and-mortar stores operated in Beijing, Jinan and Tanshang. New stores will be opened in Shanghai, Shenzhen and Chendu in this year. According to its founder and CEO, LI Rixue, Secco is also working on a 2800-square-meter maintenance service center in Beijing.
Back in 2010, Secoo had won ten million dollars in Series A round of funding from IDGVC Partners. With 20,000 active high-end users out of its user base of 500,000, it’s not a big surprise that it’s revenue in last year reached RMB more than 100 million.
The piece was written by Charlie Sheng, a nerd born in the 90s with interests in tech, innovation and art.