Glamour Sales Announces US$65m Partnership

Chow Tai Fook Enterprises and Investec Bank plc Invest in Leading Luxury Private Sales Website in China and Japan

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Glamour Sales

Apr 30, 2014, 02:04 ET

SHANGHAI, April 30, 2014 /PRNewswire/ -- Glamour Sales, a leading online destination for luxury private sales in China and Japan, announced a major investment deal with Chow Tai Fook Enterprises and Investec Bank plc.

"This is a significant move for Glamour Sales and we are thrilled to partner with a prominent Asian family and an international financial investor. Chow Tai Fook Enterprises is synonymous with luxury and success for all Chinese, and we are looking forward to dramatically growing Glamour Sales together," Olivier Chouvet, Co-founder, Glamour Sales.

"Glamour Sales is much more than a luxury private sales website. It offers unique features and an extraordinary customer experience. Thanks to the ongoing support of our brand partners, we will continue to innovate and offer more personalized luxury, fashion and lifestyle assortments to smart shopping fashionistas in Asia," Thibault Villet, Co-founder and CEO Glamour Sales China.

Glamour Sales Facts:

  • Annual growth of 92% over the past four years. Forecast revenue of US$155 million in 2014 vs. US$82 million in 2013
  • Forecast 2.4 million products will be sold in 2014
  • Currently 3.6 million members between Japan and China
  • Average of 18 "flash sales" events per day, 560 per month and 6,700 in 2014
  • 22 photo studios, 4,300 photos per day, 22,500 per week, and forecast 1.2 million in 2014
  • 12,000 square meters of warehouse space
  • 3,200 brand partners
  • 42% of business is conducted via mobile application
  • 350 staff members

Chow Tai Fook Enterprises Ltd. ("CTFE") is a private Hong Kong-based holding company owned and controlled by Dato' Dr. Cheng Yu Tung and family. CTFE is the parent company of New World Development Company Ltd., one of the listed leading property developers in Hong Kong, and the principal activities of the CTFE group of companies include investment holdings, property development and investment, hospitality services, infrastructure, department stores, jewelries and other consumer and retail businesses.

Investec Bank plc is a member of Investec Group, an international specialist bank and asset manager. Investec is listed on the London Stock Exchange and on the Johannesburg Stock Exchange.

SOURCE Glamour Sales

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