Neiman Marcus All Set to Enter Chinese Luxury Market
Neiman Marcus announced recently that the company would invest 28 million dollars in a private e-commerce company Glamour Sales, which gives it a firm foothold in the rapidly growing luxury market in China. By the end of 2012, Neiman Marcus Group will launch an e-commerce website through Glamour Sales Holdings to make their business successful in Asia.
Glamour Sales Holding operates authorized websites of flash sales in Asia. Glamour sales is one of the first sites which directly works with brands in Asian market and also has the experience of half a century in development of luxury brands in these areas. They operate leading websites like Glamour sales .com in Japan and Glamour sales.com.cn in China. Online retailers offer high discounts for a limited period on exclusive items which were proved to be successful in markets in US and Europe. Neiman Marcus is one of the few retailers of luxury items who get their stuff directly from the manufacturers. Their products are authorized, authentic and will go online to begin authorized flash sales in China.
Neiman Marcus operates forty two stores, which include one in Walnut Creek, California, and two Bergdorf Goodman locations. The company Neiman Marcus Group, Inc. functions as a high-end retailer offering handbags, shoes, home decorating products, beauty, jewelry, accessories and fashion apparel. In spite of China’s slowdown of economic growth, there is still a demand for luxury and branded goods among Chinese consumers abroad and at home. Neiman Marcus could not regain the same sales amount as shoppers had hesitated to increase their spending during the U.S. economic downturn.