Macy's dips toe in China market via online deal
(Reuters) - Macy's Inc said on Wednesday it will start selling some items in its private brand assortment directly to shoppers in China through a deal with a new online retailer there.
The department store chain will have a Macy's section on omei.com, a new China based e-commerce site operated by VIPStore Co Ltd, in which Macy's has made an equity investment of $15 million.
Macy's Chief Executive Terry Lundgren said in a statement that there is "significant long-term opportunity internationally" for Macy's and Bloomingdale's, the company's upscale chain, and that this deal will help the retailer gauge the Chinese market's potential.
Chinese shoppers have been able to buy on macys.com since last year, with orders being filled through the United States. Orders made through omei.com will be filled by that company's facilities in China.
The Macy's section on omei.com should start selling some items in the retailer's I.N.C. private label collection, aimed at young fashion-conscious shoppers, next spring.
(Reporting By Phil Wahba in New York; Editing by Gerald E. McCormick)
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