Secoo Enters Lifestyle Business by Acquiring a Caissa Travel Subsidiary

BEIJING, April 19, 2018 /PRNewswire/ -- Secoo (NASDAQ: SECO) announced a strategic partnership with Caissa Travel, and fully acquired Beijing Xuri Travel Service Co. Ltd, a subsidiary company of Caissa Travel, by increasing capital and enlarging stocks. This collaboration will combine the advantages of premium resources on both the two platforms for customers, and it also demonstrates Secoo's determination to explore the lifestyle side of the travel industry, fulfilling the vision of its latest slogan - 'Devoted to You'.

More details on this partnership:

1. Secoo enjoys the privilege of Caissa's travel resources and services in destination countries.
2. Customers can purchase premium selection of Caissa travel routes on both secoo.com and the Secoo App; while Secoo provides premium merchandise choices on Caissa Travel, online and offline.
3. Mutual benefits and credentials for high-end memberships of both.
4. Executive costumed travel products will be developed between the two companies, for more competitive services and experiences.
5. More Secoo offline lifestyle experience centers will be established together with Caissa Travel.

As part of this collaboration, Secoo finance will also become integrated with Caissa Travel's online and offline payment system. As a benefit, consumers can utilize Secoo finance to pay by 3, 6, 12 months installment terms. Secoo finance also provides zero-interest and zero down payment, reducing financial limitations. Secoo and Caissa Travel reached a goal to upgrade the tourism industry and enlarge the travel consumption market by integrating travel + finance and realizing a win-win-win situation for consumers, travel agencies and financial service companies.

As a leading travel and tourism related service company, Caissa Travel was listed in 2015. After more than 25 years of development, Caissa Travel already has six global branches in Hamburg, Paris, London, and Los Angeles. In the domestic Chinese market, the company provides offline services in 50 major cities, including Beijing, Shanghai, Guangzhou, Chengdu and Shenyang. Moreover, Caissa Travel provides travel services covering more than 100 countries and regions, offering over 20 thousand different travel options, and serving millions of travelers.

Caissa Travel is dedicated to developing its core business by providing a tangible connection to local audiences as its strategy for growing the business. In more than a hundred of its 4th generation experience stores, convenient travel products are available to customers, through both online and offline channels. The company focuses on specific segments, among them, the sports tourism market, through its unique position as the sole ticket agent for certain international events and by meeting the needs of Chinese travelers interested in joining sports events tours through the rollout of the "IP + Travel" package. The various business within the Caissa Group will strengthen the vertical influence, including Caissa Sports, Caissa Cruises, Caissa Go Snow, Caissa Visa, and Caissa Premium.

With the vision of creating a good life, Caissa Travel's powerful strength will provide great support and supplement for Secoo. Secoo Group launched its lifestyle business in 2017, attempting to fulfill the spiritual demands of high-end Chinese consumers. The lifestyle business contains premium travel, education and health examinations. Through gathering KOL, high-end products and industrial resources, Secoo lifestyle will provide more services and products with the best quality for consumers.

Secoo lifestyle includes: Personalized travel, study tour, K12 education, interests cultivation, health management, high-end medical examination, beauty, and leisure services. All services are multi-dimensional experience products, targeting 18 million consumers and gathering global service distributors. Secoo lifestyle will select strategic management and improve life quality for high-end consumers.

Secoo, Asian's largest premium lifestyle platform, continues to integrate online and offline omni-channels. Secoo has already cooperated with Country Garden and Parkson Retail Group, accelerating the retail industry's development and revolution.

This new partnership will stimulate the market demand for high-end travel through 'Travel + Finance + Internet'. Facing the upgrade of Chinese consumption and high expectations of consumers, Secoo and Caissa Travel will bring more joyful travel and entertainment experiences, leading its new take on the concepts of premium lifestyle and fashion life.

SOURCE Secoo Group