Neiman Marcus may be giving up on its China-focused partnership with Glamour Sales Holding Ltd, but the Hong Kong company sees a future in its offerings where the Dallas-based luxury retailer apparently didn’t.
Glamour Sales, which holds so-called flash sales that give consumers a short window buy discounted products, will focus on expanding in Chinese cities and zeroing in on mobile phones as a way to pursue growth, said Olivier Chouvet, the company’s co-founder and chief executive.
With 3.6 million members in Japan and China, Glamour Sales aims to extend its flash sales to 2,000 Chinese cities, up from its current 1,100, by 2017, and aims to reach USD500 million in sales for its operations in both countries by 2017, said Thibault Villet, Glamour’s other founding partner.
(Source: The Wall Street Journal Online )