Macy’s in Deal With Online Retailer in China
Macy's will start selling some of its private brand merchandise directly to shoppers in China through a deal with an online retailer there. Macy's products will be available via a branded 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 joins other venture capital providers, including Intel Capital, in acquiring a minority stake in the company.