Vipshop to invest $34m in French retailer

Online retailer Vipshop Holdings Ltd is investing 30 million euros ($34 million) in French flash-sales site Showroomprive.com to further its overseas expansion, the Chinese company said on Tuesday.

According to Vipshop, based in Guangzhou, Guangdong province, the latest investment is a key step in its "going global" efforts. The company said it was looking forward to further collaborations with Showroomprive in the future.

Lu Zhenwang, an independent analyst at Shanghai Wangqing Consultancy, said the investment is an opportunity for Vipshop to add more high-end products to its portfolio and expand customer base.