Learn more about Chinese consumers
Chinese e-commerce site VIPStore.Com has secured a USD15m equity investment from US department store Macy’s, reports StrategyEye (view press release). The Beijing-based firm operates luxury fashion site omei.com and flash sales site jiapin.com. Under the deal, Macy’s is taking a minority stake in the firm, which will sell male and female clothing ranges from the brand through omei.com from spring 2013 onwards. Orders placed with the online site for Macy’s merchandise will be filled in the US and dispatched to China. Macy’s says that it is already a well-known brand in China and that it will use its new partnership to learn more about Chinese consumers.
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