European online beauty retailer Feelunique has entered a partnership to launch a Chinese e-commerce platform Secoo.
Scheduled to be launched during the fourth quarter of this year, the store will offer an additional channel for Feelunique to serve China’s fast-growing online beauty market, which already accounts for 20% of Feelunique’s sales.
Through the collaboration, Feelunique will be able to access Secoo’s Chinese customer base of more than 20 million high net-worth members.
Orders placed through the store on Secoo will be fulfilled by Feelunique’s distribution centre located in Hong Kong, which will begin operations this October.
Feelunique CEO Joel Palix said: “Feelunique’s expertise in cross-border beauty and Secoo’s considerable customer base in China is a powerful combination. I am hugely excited by the offering we will jointly bring to Chinese consumers demanding high-quality international beauty brands from a trusted retailer.
“With Secoo’s base of 20 million members spending an average of $500 per order, this is an exceptional opportunity to accelerate Feelunique’s penetration of this large and growing beauty market alongside a distinguished luxury e-commerce platform.”
Both the companies will jointly contribute towards the development of editorial content for consumers, while Feelunique will take up the sole responsibility to handle pricing, promotions, merchandising and inventory.
Secoo founder and CEO Richard Li believes that the partnership with Feelunique is part of the company’s business strategy to further understand the luxury market demand in China.
Richard also said that the collaboration will help ‘to capture emerging online opportunities in China’.