A new chain of department stores is to open in Australia. 828store.com, an Asian-backed chain, has a A$23m budget to open 20 stores along the east coast within the next 12 months. There are also plans for an e-commerce website for shopping online. The funds for the venture are being supplied by managing director and founder Tong Lin, who said he would source the chain's apparel from his factory in China and other suppliers.