The Neiman Marcus Group, Inc., is teaming up with the privately held e-commerce company in Hong Kong, Glamour Sales Holding, in an effort to move into China’s fast-growing luxury retail market. Karen Katz, president and CEO of The Neiman Marcus Group, Inc., said that the goal here is to establish the company as an international brand.
The Neiman Marcus Group will invest $28 million in Glamour Sales Holding to help expand the growth of the its business in Asia. The Neiman Marcus Group also plans to launch an e-commerce website through Glamour Sales Holding by the end of this year that will feature a mix of full-price, in-season offerings that fitfully attract the taste of the Chinese luxury customer.
Glamour Sales Holding is the operator of leading, authorized flash sales websites in Asia. Its Glamour Sales site works directly with brands and is now one of the most successful e-commerce sites that bring this unique business model to the Asian market.