Macy´s goes online in China with omei.com

High-end American department store will sell directly to consumers

in China through a Macy's section on omei.com, a newly established China-based online retailer of in-season luxury and fashion brands operated by VIPStore Co., Ltd.

In addition, Macy's, Inc. has made an equity investment of $15 million in VIPStore Co., a Chinese e-commerce firm and parent company of omei.com. Macy's, Inc. joins other venture capital providers, including Intel Capital, in acquiring a minority stake in the company. In addition to omei.com, VIPStore operates jiapin.com, an established flash sales site.

"Our relationship with VIPStore will allow us to gain additional experience in the fast-growing Chinese market, and to better understand how consumers across China interact with Macy's and the products we sell," said Terry J. Lundgren, chairman, president and chief executive officer of Macy's, Inc.

"We know that Macy's is very well known and regarded in China through international tourism, globally broadcast events such as the Macy's Thanksgiving Day Parade, and movies such as Miracle on 34th Street. But we still have a great deal to learn about the shopping patterns and merchandise preferences of consumers in China's very diverse and rapidly emerging consumer marketplace.

"We continue to believe there is significant long-term opportunity internationally for both Macy's and Bloomingdale's. But we need to be certain that our future decisions in this regard are based on fact and experience," Lundgren said. "Omei.com is an online retailer that appeals to style- and trend-conscious consumers. We believe it is a good match for our current interests in selling to Chinese consumers and understanding the market."

"Macy's is one of the world's most respected retailers with 153 years of experience. We are delighted to enter into a relationship with them," said Allen Yang, chief executive officer of VIPStore. "This is an opportunity for us to share learnings with a world-class retailer and continue to deliver a first class customer experience to the members of omei.com and jiapin.com, which serve 2.5 million members and continue to grow."

The Macy's section on omei.com is expected to begin selling an assortment of I.N.C. women's and men's fashions in spring 2013. Other Macy's private brands are planned to roll out in the following seasons.

Macys.com first started selling online in China and more than 100 other nations in 2011 through collaboration with FiftyOne, an international e-commerce provider.