Chow Tai Fook, Bank Invest $65 Million in Website

Chinese jewelry giant Chow Tai Fook has signed a deal to invest $65 million in Asian flash-sale site Glamour Sales, along with Investec Bank.

According to Women’s Wear Daily, the companies are replacing previous investor Neiman Marcus.

Glamour Sales currently has 3.6 million members in Japan and China. It has averaged 92 percent growth in the past four years. Projected revenue for 2014 is $155 million.

JCK News Director