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CLASS

Secoo to pave the way towards Eastern countries to Italian luxury artisans

September 09, 2020


Abstract : The agreement between the Beijing market place offers new business opportunities to about 1000 artisans, who have been selected by the Italian platform created in 2015 by Marco Credendino and Ippolita Rostagno, specialized in furniture, decoration, lighting and lifestyle.

MILAN, Sept. 8 (Class Editori) - The Italian luxury craftmanship, from the marble accessories by the designer Fiammetta V, to the colorful Sardinian china by Cerasarda, the silver inventions by Zanetto, the brass decorations by Ghidini 1961, the colorful glass products by CreArt and the leather goods by Pinetti, has found a new way to land in the rich Eastern markets, particularly China, passing through a digital Silk Road.

The way has been paved by Marco Credendino, CEO of Artemest, the Italian marketplace with an headquarter in New York as well, specialized in the high-quality Italian craftmanship and the contemporary luxury design. Credendino, who supports small and medium-sized enterprises, Italian artists and designers in reaching an international audience of interior designers, architects and enthusiasts, has signed an agreement with Secoo, its bigger counterpart in Beijing, listed on Nasdaq, which is the main Asian online platform dedicated to lifestyle products and premium services.

The aim is leveraging on Secoo's appeal in order to strengthen the presence of the Italian craftmanship on the Asian market, by offering unique products, created by niche realities, for sale on one of the most important and prestigious showrooms of the continent.

Established in 2008 and led by Richard Rixue Li, president and CEO, Secoo group, whose headquarter is located in Beijing, with branches in Shanghai, Chengdu, Hong Kong, New York, Milan and Malesia, is the biggest platform dedicated to the lifestyle premium in Asia.

With over 3,000 brands, it provides to its members a selection of over 300,000 goods and services, including all the global aspects of the lifestyle premium field: fashion accessories, luxury travels, gourmet services, entertainment, art, Chinese manufacturing products, cars and private jets.

The market penetration capacity of its brands has been showed by the figures approved in the last days related to the second quarter of this year, affected by pandemic and the following lockdown in the main global markets. Secoo has recorded a growth by around 10% of the turnover and the main performance indicators.

The GVM (gross market value) which represents the total amount of all products and services sold in the period, has increased by 12% y-o-y, up to $524 billion; the total number of orders has exceeded the million threshold, with an increase by 7%; the number of active customers has increased by 9% up to 467,000, whereas the total turnover amounted at 184 million, showing a decrease compared to 2019.

Artemest, which has about 40,000 items on its marketplace, chosen among the works of a thousand artisans, has recently obtained a new investment by the French private equity fund Olma Luxury Holding and by the Swiss holding Brahma, which have entered the equity of the company where also the Nuo Capital fund of Milan, the family office of Pao family from Hong Kong, owns a shareholding.

"This investment round will allow us to further develop our presence in the international markets, by making our range of unique products available worldwide," as Credendino has explained. (All rights reserved)

(Source:Class Editori)

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