Neiman Marcus Announces Expansion Into China

Karen Katz, president and CEO of The Neiman Marcus Group, announced that the company is making a noncontrolling strategic investment in Glamour Sales Holding, a privately held e-commerce company. This will be the company's first move into the fast-growing luxury retail market in China. "We are taking this bold step to establish Neiman Marcus Group as an international brand," said Katz.