Feelunique to launch on Secoo in Q4
UK-based online beauty giant Feelunique is linking up with China’s Secoo to launch a dedicated Feelunique-branded cosmetics store within Secoo's platform in the next few months.
Through what the two firms say is a “unique partnership”, Feelunique will "provide Secoo's Chinese customer base of more than 20 million high net-worth members with access to highly sought-after premium and niche international beauty brands.”
Secoo said that it values Feelunique's “unique combination of expertise in beauty and cross-border retailing, as well as its growing brand recognition in China – a market which already accounts for 20% of [its] sales.”
The store launches during Q4 and will be an important step in building out Secoo's cosmetics category, while “providing an additional potent channel for Feelunique to serve China's fast-growing online beauty market.”
Orders placed through the store will be fulfilled by the beauty firm’s distribution hub in Hong Kong, which is due to be operational next month, allowing it to deliver orders faster than if it shipped from Europe.
The two will also jointly create editorial content, something Feelunique has already done successfully in its European and US operations. All pricing, promotions, merchandising and inventory will be managed by Feelunique.
CEO Joel Palix said he’s excited by the opportunity, which is understandable given that Secoo’s 20 million members spend an average of $500 per order. He said this is “an exceptional opportunity to accelerate Feelunique's penetration of this large and growing beauty market alongside a distinguished luxury e-commerce platform.”
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