CHINA: Macy's to roll out fashions via online deal
US department store retailer Macy's has invested US$15m in Chinese online retailer VIPStore Co, in a move that will enable it to start selling some of its private branded products in China next year.
The deal means Chinese consumers will be able to buy Macy's merchandise through a dedicated section on omei.com, a luxury fashion site operated by VIPStore.
The first assortment available will be I.N.C. women's and men's fashions in spring 2013, but other Macy's private brands are planned to roll out in the following seasons.
However, visitors to the Macy's section of omei.com will also be able to link to the full merchandise assortment available to Chinese customers on macys.com.
Orders placed through omei.com will be filled locally through that company's facilities in China. Orders placed by Chinese customers on macys.com will be fulfilled through the United States, as they are today.
"Omei.com is an online retailer that appeals to style- and trend-conscious consumers. We believe it is a good match for our current interests in selling to Chinese consumers and understanding the market," said Terry Lundgren, chairman, president and CEO of Macy's.
"This is an opportunity for us to share learnings with a world-class retailer and continue to deliver a first class customer experience to the members of omei.com and jiapin.com, which serve 2.5m members and continue to grow," added Allen Yang, CEO of VIPStore.
Macys started selling its products online in China last year, through a collaboration with international e-commerce provider FiftyOne.
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