The high-end department store and online seller, Neiman Marcus, has notified its suppliers that it will be closing its Chinese warehouse citing a change in business model, according to an article from The Wall Street Journal.
The Wall Street Journal, without stating specific retailers, said in the article “the move comes as some luxury brands have warned of a slowdown in China after years of rapid growth.”
According to the article, all sales through its website will now be fulfilled within the United States. In the article, Neiman Marcus spokeswoman Gabrielle de Papp said “the decision to close the Chinese warehouse had more to do with a change in Neiman’s business model than concerns over the Chinese economy.”
The Wall Street Journal also states that Neiman Marcus recently began focusing on international shipping and de Papp said “We think this is a better model.”
Neiman Marcus, according to the article, entered the Chinese retail market in 2012 through a partnership with Glamour Sale Holdings who runs flash-sale sites in China and runs the Neiman Marcus Chinese website, www.neimanmarcus.com.cn.