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Secoo Announces Partnership with Edison Chen’s Emotionally Unavailable and Applies the Block Chain Technology in the Luxury Industry

BEIJING, July 02, 2018 (GLOBE NEWSWIRE) -- Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ:SECO), Asia's largest online integrated upscale products and services platform, today announced a partnership in Shanghai with Emotionally Unavailable, a lifestyle brand designed by the well-known Hong Kong entertainer and artist Edison Chen. Furthermore, the Company announced applying the block chain technology for the authentication of certain items sold on the Secoo platform. With this new technology, Secoo becomes the first e-commerce company to utilize block chain technology in the luxury industry in China.

Utilizing strengths of block chain technology including decentralization, non-modification and traceability, the product’s unique identification profile, complete with full authentication and anti-counterfeiting information, can then be accessed and reviewed by customers online, including through Secoo’s customized mobile application.

“We are excited to collaborate with Edison’s signature brand,” said Mr. Richard Li, Chairman and Chief Executive Officer of Secoo. “As a cutting-edge entertainer and visual artist, Edison not only provides significant name recognition for our platform, but also brings his unique sense and taste in lifestyle and art, including in the area of conceptual art. We believe this partnership will significantly enrich Secoo’s lifestyle product offering.

“We are also excited about the development in our block chain technology, which is based on Secoo’s solid authentication and counterfeit detection capability. After ten years of tireless effort, Secoo has accumulated a wealth of experience in the field of luxury product authentication. We already own Asia’s largest luxury product authentication center with over 100 appraisers around the world. We believe the application of block chain technology will further increase our consumers’ trust,” Mr. Li concluded.

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 300,000 SKUs, covering over 3,000 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. For more information, please visit ir.secoo.com.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to Secoo management quotes and the Company’s financial outlook. These forward-looking statements can be identified by terminology such as “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal” and similar statements.  Secoo Holding Limited may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These forward-looking statements include, but are not limited to, statements about: the Company’s goals and strategies; its future business development, financial condition and results of operations; its ability to attract and retain new customers and to increase revenues generated from repeat customers; its expectations regarding demand for and market acceptance of its products and services; trends and competition in China’s e-commerce market; changes in its revenues and certain cost or expense items; the expected growth of the Chinese e-commerce market; Chinese governmental policies relating to the Company’s industry and general economic conditions in China.  For additional information on these and other important factors that could adversely affect the Company's business, financial condition, results of operations and prospects, please see its filings with the U.S. Securities and Exchange Commission

Secoo Holding Limited does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of this press release, and Secoo Holding Limited undertakes no duty to update such information, except as required under applicable law.

For investor and media inquiries, please contact:

In China:
Secoo Holding Limited
Jingbo Ma
Tel: +86 (10) 6588-0135
E-mail:  ir@secoo.com

The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 5730-6200
E-mail:  Secoo@tpg-ir.com

In the United States:
The Piacente Group, Inc.  
Brandi Piacente
Tel: +1-212-481-2050
E-mail:  Secoo@tpg-ir.com 

Secoo Holding Limited