Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Chinese online consumers now can purchase products directly from the British high-end fashion brand Burberry. Burberry Group PLC launched its online store Tuesday on Alibaba Group Holding Ltd.’s Tmall online marketplace.
On its store burberry.tmall.com, Burberry sells hundreds of apparel and fashion products in about 20 categories. Many of the products are among the most expensive apparel items offered on Tmall.com, which hosts some 70,000 branded stores. For example, in its Tmall store, a woman’s windbreaker jacket sells for 17,500 yuan ($2822).
Burberry is among the few higher-end brands selling on Tmall. Many shy away from Tmall, and particularly the even more wide-open Alibaba marketplace Taobao, because of intense discounting.
However, Tmall says this year it plans to recruit more luxury brands to open stores on its shopping site. Among the Western brands selling on Tmall are Gap, Lacoste and Nike.
Gap ranks No. 275 in the Internet Retailer China 500 and grew its online sales 36.9% in 2013. Nike is No. 255.
Burberry says China is its fastest-growing market, with double-digit growth in 2013 when China accounted for 15% of global sales. The luxury brand operated 70 bricks-and- mortar stores in 35 Chinese cities at the end of 2013, according to Burberry.
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