Macy's takes Tmall route to expand into China

Macy's Inc, the iconic United States mid-range department store chain, is to debut in China later this year by opening a store on the country's leading e-commerce platform, Tmall.

The company has formed a joint venture with Hong Kong-based Fung Retailing Ltd to handle its first foray into China.

Macy's China Ltd, to be based in the special administrative region, will be 65 percent owned by the US firm and 35 percent owned by Fung Retailing.