(Yicai Global) Jan.25 – Parkson Retail Group Ltd., one of Asia's biggest department store operators, has inked a deal with the continent's biggest upmarket e-commerce platform Secoo Holding Ltd. to implement digital transformation across its network in China, as the recent wave of integration between online and offline sectors continues.
The two firms will offer products on each other's websites and enable customers to make orders online and pick up products at either Secoo or Parkson outlets, Secoo said in a press briefing on Jan. 23.
The agreement mirrors a recent deal between Chinese tech giant Tencent Holdings Ltd. and French supermarket chain Carrefour SA's China unit to work together on smart retail and mobile payments, as the development of new retail in the country continues to take off.
Malaysia-based Parkson aims to enter fields beyond its traditional business models and will leverage Secoo's data capabilities to offer customers a better experience, both online and offline.
In terms of brick-and-mortar stores, Parkson will bring in Secoo's luxury maintenance systems at its shopping malls, as well as introduce Secoo's physical stores.
Parkson will also adopt two of Secoo's consumer finance products, namely Secoo Check for online transactions, and Secoo Installments for payment in physical stores.
"Deepened cooperation will lead the two parties into further discussions on rolling out intelligent technologies and data storage through the new retailing model," said Secoo founder Li Rixue in an interview with Yicai Global. The company is exploring options to use blockchain and internet of things innovations in the retail field, sources close to the company suggest.