– CHINA, Beijing – Secoo Holding Limited (NASDAQ:SECO), Asia’s largest online integrated upscale products and services platform, today announced the closing of the Company’s offering of US$175 million convertible notes to L Catterton Asia, the Asian unit of the largest and most global consumer-focused private equity firm in the world, and JD.com, Inc. (NASDAQ:JD), China’s largest retailer.
The Company also announced that its Board of Directors has approved the appointment of Ravi Thakran as a member of the Board of Directors and Shengli Hu as an observer of the Board, effective immediately.
Mr.Thakran currently serves as Chairman and Managing Partner of L Catterton Asia and has served as the Group Chairman of LVMH South Asia and South East Asia, Middle East and Australia and New Zealand since September 2007. Prior to joining LVMH, Mr. Thakran held senior management positions at the Swatch Group, Nike and Tata Group, based in various global locations. He holds an MBA from the India Insitute of Management, Ahmedabad.
Mr. Hu currently served as the President of Fashion & Lifestyle at JD and the Senior Vice President of JD, responsible for JD’s Fashion, Home & Life and TOPLIFE luxury platform. Mr. Hu joined JD in January 2014 and became the President of JD Electronics and Lifestyle in January 2016. As a veteran of the electronics and lifestyle industry, Mr. Hu previously held several management roles at China Unicom and Fun Talk. Mr. Hu holds an MBA from Hunan University.
Richard Li, Chairman and Chief Executive Officer of Secoo, commented: “We are thrilled to have successfully closed the transaction and welcome Mr. Thakran and Mr. Hu to our Board. The financing and partnership with the industry leaders will help Secoo to gain invaluable expertise and insights, as well as a wealth of resources in the consumer, luxury goods and e-commerse spaces both in China and overseas. We look forward to working with Mr. Thakran and Mr. Hu and learning from their exceptional strategic vision.”
About Secoo Holding Limited
Secoo Holding Limited (NASDAQ:SECO), is Asia’s largest online integrated upscale products and services platform as measured by GMV in 2016. Secoo provides customers a wide selection of authentic upscale products and lifestyle services on the Company’s integrated online and offline shopping platform which consists of the Secoo.com website, mobile applications and offline experience centers, offering over 300,000 SKUs, covering over 3,000 global and domestic brands. Supported by the Company’s proprietary database of upscale products, authentication procedures and brand cooperation, Secoo is able to ensure the authenticity and quality of every product offered on its platform.
For more information : http://www.secoo.com
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