Macy's China Limited will be led by Kent Anderson, who will serve as managing director. Anderson is a veteran Macy's, Inc. executive and long-time president of macys.com. Ms. Fung will represent Fung Retailing's interest on the board of the joint venture company.
America's leading fashion retailer Macy's, Inc. has announced it has formed a free-standing joint venture with Hong Kong-based Fung Retailing Limited,#
Macy's China Limited is expected to invest approximately $25 million in the operations of the joint venture over the next 18 months, of which Macy's, Inc. will fund 65 per cent. Macy's, Inc. expects no material impact on its earnings in fiscal 2015, the release said. (SH)
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