Secoo Signs Strategic Partnership with Oracle

Secoo (NASDAQ:SECO) announced a strategic partnership with Oracle in China to launch a new office automation system which is set to upgrade Secoo’s strategy development and their technology.

As quoted in the press release:

Through this partnership, Oracle, the largest enterprise-level software company in the world will implement Oracle’s cloud solutions for Secoo’s ERP and HCM management systems alongside Accenture, one of the leading management consulting and information technology providers in the world. Based on China’s data protection privacy regulations and combined with Accenture’s management consulting service, the new system will improve Secoo’s technical capability, operating efficiency and cross-border business management and ultimately speed up their globalization strategy.

Li Rixue, the Founder and CEO of Secoo Group stated that, “Our luxury lifestyle platform serves as a one-stop shop for our more than 20 million high-end consumers around the world. This partnership will enhance efficient accounting processes, integrated business and financial systems, and provide unrivaled productivity, which is critical for us—while Oracle Cloud Platform, Oracle ERP Cloud, and Oracle SCM Cloud enable us to deliver a better work environment to improve our global strategy profile.”

The new system enables Secoo’s employees to experience better ERP and HCM management systems. Additionally, Oracle will continue to implement various kernel cutting-edge technologies into Secoo’s strategic development. Oracle will also utilize AI data analysis and intelligent operation to break through the data barriers between departments and establish multi-dimensional business management. Moreover, using blockchain technology, machine learning, IOT and mobile applications, Secoo will increase their trustworthiness. The cooperation among Secoo, Oracle and Accenture will empower Secoo’s leading position in the luxury e-commerce industry and enhance Secoo’s digital capabilities.

In the near future, the international luxury consumption market will keep growing along with the increase of the young generation’s consumption. Individuals’ demand will also transform from bagsand watches to health, service, and experience. With the support of Oracle, Secoo will further develop more lifestyle business under the concept of their premium lifestyle platform, optimize business management processes and enhance the shopping experience for high-end consumers.

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