Headlines

Macy’s Cancels Online Plans in China

Country’s economic slowdown is worrying some U.S. retailers

Published

11 years ago

October 8, 2013

steve kaufman

Macy's Inc. (Cincinnati) has decided to cancel its online-expansion plans in China.

The U.S. department store chain was intending to sell its private label brands to the Chinese market after buying a minority stake last year in VIPStore Co. Ltd. (Beijing), operator of the popular shopping web site omei.com.

But many U.S. retailers hare having second thoughts as growth slows in the world’s second-largest economy. Neiman Marcus Group Inc. (Dallas) recently closed a mainland Chinese warehouse that had been set up to fill orders for the chain's China e-commerce site. The luxury retailer now ships products directly from its U.S. warehouses instead.

However, a Macy’s spokesman said the company’s change in plans is because it needs to learn more about Chinese shoppers, not because it is concerned about China's slowing economy or appetite for luxury goods.

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