“Combining MeituBeauty with Secoo's TryTry Platform represents an adjustment to Meitu's e-commerce strategy,” said Meitu Founder and CEO, Wu Xinhong.
Under the agreement, MeituBeauty will now be operated by Secoo's luxury retail application, TryTry.
While Meitu's app matrix will continue to empower the platform, TryTry will be responsible for branding promotions, product purchasing, sales, delivery, and customer service.
Partnering to innovate
With the partnership, Secoo will able to integrate Meitu's advanced Artificial Intelligence (AI) skin testing technology into its supply chain. By integrating them into TryTry, the companies will be able to offer their consumers with an enhanced shopping experience.
Secoo will also gain access to Meitu’s consumer base, which includes the largest group of high-earning female users in China.
“Both companies share a vision of establishing a multi-platform for consumers, merchants, and services. The cooperation between Secoo, TryTry, and Meitu will see the three parties working together to improve an already innovative experiential service,” said Li Rixue, founder and CEO of Secoo.
In turn, the partnership frees Meitu to focus its attentions on the social media aspect of its business, said Wu.
“This cooperation enables each party to focus on their respective advantages. Meitu will continue to focus on its beauty and social media strategy, while further opening up to unleash its core strengths of connecting and serving users and merchants.”
Meitu added that this cooperation will allow Meitu to reap the benefits of a “guaranteed and shared income” while its app matrix continues to provide an in-depth level of service for MeituBeauty, Secoo and TryTry.
Going beyond apps
In August, Meitu announced its intention to venture beyond developing mobile applications. The company has since been working with companies and brands to enhance their retail experience.
It partnered with DFS for to launch a pop up centred around its smart device, the Magic Mirror into 22 DFS stores globally. In October, Meitu struck a deal with CK Hutchison, owner of health and beauty chain Watsons to build a new social media orientated business model.
Meitu supplied Watsons with its smart device, the Magic Mirror and rolled out a skin analysis feature on its app, BeautyCam, a feature which offers users product recommendations from Watsons.
Additionally, Watsons China launched an official account on Meitu’s social media platform to gain access to Meitu’s users.
“With such partnerships, Meitu is set to focus on its platform businesses and core technologies to scale our user base and increase our gross margin,” said Meitu. “Meitu will continue to provide e-commerce related services to our users by facilitating their online shopping activities. Also, Meitu continues to operate its MeituDIY e-commerce platform that enables users to create customized items.”
