Secoo Holding Ltd ADR (SECOY)

[StockLogistics]

“9:17a ET 9/15/2022 - Benzinga
Aladdin Technology Group, Secoo Group Reached A Strategic Cooperation With Up To RMB 1.3B To Boost The Global Innovation And Development Of Secoo

Secoo Holding Limited ("Secoo" or the "Company") (NASDAQ:SECO), Asia's leading online integrated upscale products and services platform, today announced that it has established in-depth strategic cooperation with Aladdin Legend Technology Co., Ltd., and will strategically cooperate with Secoo Group in three steps, with an investment amount of up to 1.3 billion RMB. Aladdin Technology Group committed to investment in and development of innovative businesses in the fields of community economy and industrial Internet. The two companies will jointly explore business opportunities in luxury shopping and value-added services, tapping into community economy meanwhile providing support for a fast-growing portfolio of China's domestic brands, with Aladdin Technology contributing its capital, talent and technological strengths and Secoo leveraging its resources and expertise in high-end fashion supply chain and sales channels.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.”