Flash Report 5 minutesRegister for Free AccessJD.com and L Catterton Asia Invest in Online Luxury Fashion Retailer Secoo Coresight Research July 19, 2018 Executive Summary China’s largest online retailer JD.com and consumer-focused, private-equity firm L Catterton Asia have invested $175 million in Secoo, the largest online luxury fashion retailer in China. The partnership brings benefits to all three parties. Secoo will leverage L Catterton’s global fashion and retail knowledge and JD.com’s e-commerce expertise to expand into the global luxury market, while JD.com and L Catterton will be able to enhance their position in the luxury market in China. The luxury goods market in China is already large and is forecast to account for 40% of global luxury sales by 2024. In the next three years, millennials in China, who are enjoying a higher standard of life compared to their parents, are expected to become the main consumers of luxury products. Brands can appeal to this growing and important segment by approaching them in a more personal, relatable and engaging way, and even by adding an element of nostalgia, according to some commentators. Please Login to read the full report. Not a member? Register for a free user account. This document was generated for Other research you may be interested in: Innovator Profile: The Metav.rs Web3 Platform Helps Brands To Better Create and Manage Metaverse ExperiencesWeekly US and UK Store Openings and Closures Tracker 2024, Week 36: Foot Locker To Close Nearly 150 StoresEarnings Insights 1Q23, Week 6: Five Below, Lululemon and PVH Post Strong Results; Capri Holdings, Macy’s and Nordstrom See Sales DeclineWeekly US and UK Store Openings and Closures Tracker 2024, Week 33: LL Flooring To Shutter Nearly 100 Stores Following Bankruptcy Filing