US-based retailer Macy’s has invested $15m in VIPStore, a China-based retail website that operates both Omei.com and Jiapin.com.
Macy’s said it would sell a selection of its private-brand merchandise to Chinese consumers through a Macy’s section on Omei.com.
Terry Lundgren, head of Macy’s, said: "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."
In September, VIPStore.com closed its series D funding round worth more than $20m, according to business and finance website China Knowledge.
Also participating alongside Intel Capital were China-based venture capital (VC) firms GSR Ventures and EZ Capital. VIPStore’s series C round fetched more than in $10m in January, and was led by GSR with participation by VC firms Taishan Invest and Green Pine Capital.