Secoo Announces Changes in Board of Directors

BEIJING, July 09, 2020 (GLOBE NEWSWIRE) --  Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ: SECO), ‎Asia’s largest online integrated upscale products and services platform, today announced that its Board of Directors (the “Board”) has approved the appointment of Dr. Jun Wang as a member of the Board, effective immediately. At the same time, Mr. Ravi Thakran will step down from the Board with immediate effect.

Dr. Jun Wang currently serves as a Partner of L Catterton Asia, and is a board member of the China Sasseur Group, GXG Group, Trendy Group and board alternative member for Crystal Jade Group. Prior to joining L Catterton Asia, Dr. Wang was a Senior Associate with McKinsey & Company, Shanghai office, where he served on multiple international and domestic institutions for strategic, operational, and M&A related projects. Dr. Wang also worked as Scientist and Manager for the Fabric & Home Care Division in Procter & Gamble and led numerous cross-border consumer innovation projects. Dr. Wang holds an MBA from Harvard Business School in 2008, a DPhil in Chemistry from Oxford University in 2002 and Bachelor of Science from Peking University in 1998.

Mr. Richard Rixue Li, Chairman and Chief Executive Officer of Secoo, commented, “Dr. Wang brings over a decade of experience in private equity investment, strategic consulting and consumer-related sectors. We believe his extensive industry experience and strong expertise in analytical capabilities and investment from his professional experience in the UK, US, China, and South East Asia will add great value to our business operation. As we expand our footprint in the luxury consumer industry globally, we look forward to continuously collaborating with L Catterton Asia in various business opportunities. In the meantime, on behalf of the Board, I would like to extend our thanks to Mr. Ravi Thakran for his years of dedication and support to Secoo.”

About Secoo Holding Limited

Secoo Holding Limited (“Secoo”) is Asia’s largest online integrated upscale products and services platform as measured by GMV in 2016. Secoo provides customers a wide selection of authentic upscale products and lifestyle services on the Company’s integrated online and offline shopping platform which consists of the Secoo.com website, mobile applications and offline experience centers, offering over 400,000 SKUs, covering over 3,800 global and domestic brands. Supported by the Company’s proprietary database of upscale products, authentication procedures and brand cooperation, Secoo is able to ensure the authenticity and quality of every product offered on its platform.