Sasseur inks partnership with cornerstone investor to boost sales network

THE manager sponsor of Sasseur real estate investment trust (Reit) - which owns four retail outlet malls in China - on Wednesday said that it has signed a partnership with one of its cornerstone investors to boost sales channels.

Through a "memorandum of strategic partnership", the Reit sponsor Sasseur Cayman Holding will work with Secoo Holdings to expand the channels to sell luxury goods in China via an "omni-channel network". Such networks refer to multiple channels that include physical and online store presence. Secoo is an integrated online platform for upscale goods, said Sasseur.

In a media statement, Anthony Ang, CEO of Sasseur Reit's manager, said: "The partnership with Secoo ... adds a new dimension to our usual offline channel of outlet malls while sharpening our competitive advantage in the industry. As we seek to jointly explore new marketing opportunities centring on upscale lifestyles, we are committed to deliver a better shopping experience for our consumers, with the aim of solidifying revenue growth for Sasseur Reit."

Units of Sasseur Reit closed on Wednesday at S$0.72, up half a Singapore cent or 0.7 per cent.