Categories: Department StoresHeadlines

Neiman Marcus Invests in Asian E-commerce Company

Neiman Marcus Group Inc. (Dallas) is investing $28 million in a closely held Hong Kong e-commerce company. The luxury department store retailer plans to launch an e-commerce website in China with Glamour Sales Holding by the end of 2012, according to Bloomberg.

Glamour Sales operates flash sales websites in Asia, including China and Japan.

Neiman Marcus is owned by Warburg Pincus LLC and TPG, which bought the company in 2005 for $5.04 billion. The retailer operates 42 stores and two Bergdorf Goodman locations.

VMSD Staff

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