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China Luxury E-Commerce Secoo Platform Parent Beijing Siku Shangmao Files for Bankruptcy, Listed on Nasdaq in 2017 Raising $140 Million
12th August 2022 | Hong Kong
Once China top luxury e-commerce platform Secoo parent company Beijing Siku Shangmao had filed for bankruptcy in Beijing (10/8/22). On 3rd August 2022, Italian luxury brand Prada won a lawsuit to freeze $1.6 million of its assets. Secoo (Siku Shangmao) is founded by Richard Li Rixue in 2008, and raised $140 million in its IPO on Nasdaq in 2017. Secoo current market capitalisation is around $19.3 million (11/8/22), trading at around $0.27 (Highest $14.46 in 2018).
“ China Luxury E-Commerce Secoo Platform Parent Beijing Siku Shangmao Files for Bankruptcy “
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SECOO Group, a leading Online-Offline Premium Lifestyle platform, listed in NASDAQ on Sept.22nd, 2017, under the stock symbol of ‘SECO’. Established in 2008, SECOO now has become the number one market share premium online retailer in China, as well as in Asia(25.3%，/15.4%, according to world-renowned research institute Frost & Sullivan.) Together with SECOO experience centers in prime locations in Beijing, Shanghai, Chengdu, Qingdao, Tianjin, Xiamen，Hong Kong, and Malaysia, SECOO committed to provide a one-stop life solution for more than 20 million high-end consumers around the world. SECOO Group has a holistic Business Eco System, including Secoo Luxe, Secoo Finance, Secoo Smart，and Secoo Community. Meanwhile, SECOO owns the largest luxury authentication team and the largest database of authentication in China.
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