American Express Co. and vente-privee.com on Wednesday launched their joint venture, a website featuring member-only sales of luxury goods from European and American designers.

The French online retailer vente-privee.com specializes in selling overstocked designer items. The first deal it is offering via its JV with American Express is for items from French clothing designer Paul & Joe Sister.

American Express is giving its existing cardholders incentives to shop at vente-privee.com, including a $20 statement credit for their first purchase before the end of the year.

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