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

The French online retailer 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, including a $20 statement credit for their first purchase before the end of the year.

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