Home / Knowledge / News / Apparel/Garments / Neiman Marcus to tap Chinese luxury retail market
Neiman Marcus to tap Chinese luxury retail market
23
Mar '12
Karen Katz, President and CEO of The Neiman Marcus Group, Inc., announced that the company is making a non-controlling strategic investment in Glamour Sales Holding (HK), 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. "Our strategic investment in Glamour Sales gives us a tremendous partner and a strong foothold in a rapidly expanding luxury market.”

Through Glamour Sales Holding, Neiman Marcus Group intends to launch an ecommerce website by the end of 2012. The site will feature an expertly curated mix of full-price, current-season offerings to reflect the discerning taste of the Chinese luxury customer. The site will have editorial content, fashion expertise and behind-the-scenes videos to make it a reliable and indispensable source of valuable insights about featured luxury brands.

Neiman Marcus Group will be investing $28 million in Glamour Sales Holding, to both help fuel the growth of Glamour Sales' existing and successful flash sales business in Asia and build a new branded e-commerce business. The two companies will combine talent to create a new team in China who will oversee the development, launch and management of the new website.

"We have a rich, century-long heritage with two prestigious brands – Neiman Marcus and Bergdorf Goodman. We believe that our vast experience and history of success in luxury and fashion, customer service and e-commerce, combined with Glamour Sales' keen understanding of the Chinese market, presents us with a unique opportunity to build a vibrant full-price, multi-brand, luxury online business in China," Katz added.

Glamour Sales Holding, founded in 2009 by veteran entrepreneurs, Olivier Chouvet and Alain Soulas, and joined in 2010 by Thibault Villet, operates the leading, authorized flash sales websites in Asia: Glamour-Sales.com.cn in China and Glamour-Sales.com in Japan. Flash sales, where online retailers provide a limited-time offer of high discounts on exclusive items, have proven to be tremendously successful in the European and U.S. markets.

Glamour Sales is one of the first and most successful e-commerce sites, working exclusively and directly with brands, to bring this business model to the Asian market. Additionally, the Glamour Sales management team has more than half a century of cumulative experience in luxury brand management and development in Asia.

“We are delighted to be teaming up with the top luxury retailer in the world,” said Olivier Chouvet, CEO of Glamour Sales. “This partnership represents the coming together of two pioneers. Neiman Marcus was the first luxury retailer to go online and Glamour Sales was the first to bring authorized flash sales to China."

"Together we look forward to offering Chinese customers the best merchandise andservice available. And we will provide our customers with the peace of mind that comes from knowing that all of our luxury goods are authorized, authentic and sourced directly from the manufacturer.”

Neiman Marcus Inc. operations include the Specialty Retail Stores segment and the Direct Marketing segment.

Neiman Marcus Inc

Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search