Macy’s in deal with online retailer in China
Cincinnati -- Macy's Inc. will start selling some of its private brand merchandise directly to shoppers in China through a deal with an online retailer there.
The chain said it will the goods through a Macy’s section on Omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., a Chinese e-commerce firm and parent company of Omei.com
In addition, Macy’s has made an equity investment of $15 million in VIPStore. Macy’s Inc. joins other venture capital providers, including Intel Capital, in acquiring a minority stake in the company. Along with Omei.com, VIPStore operates Jiapin.com, an established flash sales site.
“Our relationship with VIPStore will allow us to gain additional experience in the fast-growing Chinese market, and to better understand how consumers across China interact with Macy’s and the products we sell,” said Terry J. Lundgren, chairman, president and CEO of Macy’s. “We continue to believe there is significant long-term opportunity internationally for both Macy’s and Bloomingdale’s. But we need to be certain that our future decisions in this regard are based on fact and experience.”
The Macy’s section on Omei.com is expected to begin selling an assortment of I.N.C. women’s and men’s fashions in spring 2013. Other Macy’s private brands are planned to roll out in the following seasons.
Visitors to the Macy’s section of Omei.com can 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.