Federica Marchionni has been appointed International Chief Executive Officer and Chief Strategy Officer of Chinese online retailer Secoo. In her new role, Marchionni will work to further strengthen the positioning of the company in China as an iconic multiplatform and boost its international expansion.
Marchionni is widely considered by many in the industry as a forward thinker, and the move signifies the growing strength of the retail climate of China. That strength was recently affirmed by the Arnault Group and its owner Bernard Arnault via a $175M investment in Secoo through L Catterton Asia, the Asian division of the world’s largest venture capital and private equity firm that was formed through a partnership between Catterton, LVMH and Groupe Arnault. L Catterton Asia teamed with mega retailer JD.com to make the investment this past July.
“[Ms. Marchionni] is a visionary business leader with a broad global experience in a variety of industries, geographies and channels, who is passionate about people, customers and results,” said Richard Li, Chairman and Group CEO of Secoo. “Ms. Marchionni and I embrace the same values and vision to lead Secoo to become an internationally recognized iconic multiplatform, bringing the best products and services to our customers around the globe. Her extensive experience in international operations, luxury and retail – both online and offline – as well as her deep network of relationships across fashion, consumer markets, premium lifestyle industries, will be a tremendous asset to Secoo.”
Founded in 2011, Secoo is an integrated online and offline shopping platform both in China and globally. Secoo has achieved about 20 million registered members in China and more than 300,000 SKUs, said Marchionni.
The online retailer, which is a publicly traded company on the NASDAQ (SECO), offers various high-end products and lifestyle services, including handbags, watches, jewelry, clothing, accessories, housewares, travel/experiences, and even luxury cars. The selection is along the same upscale lines as Net-a-Porter.com albeit with a broader offering of items like spa retreats and luxury automobiles. Brand such as Bulgari, Burberry, Valentino, Prada, Louis Vuitton, Dior, Gucci, Rolls Royce, Lamborghini, and Aston Martin are all offered.
“It is remarkable what Secoo has been able to achieve in [the] past few years and I have a deep admiration for its Founder, Mr. Li, and the team,” said Marchionni. “China is a highly competitive e-Commerce and retail market with an increasing demand, and I see opportunities abound to increase Secoo’s positioning and market share. We will strive to provide Secoo’s premium consumers with unique experience at Secoo’s platform and I am thrilled with this opportunity to help Secoo become an iconic international multiplatform.”
Marchionni began her career working in sales and marketing at consumer and tech companies, such as Samsung, Phillips, and Ericsson. She later went on to hold senior positions at Ferrari and Dolce & Gabbana. More recently, Marchionni was the CEO for Land’s End, where she is credited with having updated the iconic American brand’s image, revamping its website and catalogs, and onboarding a strong team, amongst several other accomplishments during her time at the helm.
Marchionni will be based in Beijing and will report to Richard Li, Chairman and Group CEO of Secoo.