Luxury E-Commerce Platform Secoo To Use Blockchain To Provide Better Lifestyle Service

Chinese luxury e-commerce platform Secoo has teamed with computer software company Oracle to launch a new office automation system using blockchain technology, machine learning and Internet of Things (IoT).

Secoo is an integrated online and offline shopping platform that provides upscale brand products and services, including bags, watches, women’s and men’s wear, footwear, children’s wear, sportswear, cosmetics and skin care products, jewelry, accessories, automobiles, home goods, fine food and beverage products, arts, and Chinese original products, as well as lifestyle services.

The company partnered with Oracle to improve its strategy development and upgrade its technology. The partnership will see Secoo implement Oracle’s cloud solutions for its ERP and HCM management systems. The new system is expected to improve Secoo’s technical capability, operating efficiency and cross-border business management, and ultimately speed up their globalization strategy.

In addition, Oracle will also implement blockchain technology, machine learning, IOT and mobile applications to increase Secoo’s trustworthiness. The new system will be based on China’s data protection privacy regulations and combined with Accenture’s management consulting service.

Secoo said that the partnership will empower the company’s leading position in the luxury e-commerce industry and enhance its digital capabilities.

“Our luxury lifestyle platform serves as a one-stop shop for our more than 20 million high-end consumers around the world,” said Li Rixue, Founder and CEO of Secoo. “This partnership will enhance efficient accounting processes, integrated business and financial systems, and provide unrivaled productivity, which is critical for us—while Oracle Cloud Platform, Oracle ERP Cloud, and Oracle SCM Cloud enable us to deliver a better work environment to improve our global strategy profile.”

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