THE H&M GROUP AND ALIBABA GROUP EXTEND COLLABORATION
H&M opens on Tmall, the world’s largest e-commerce platform, during spring 2018
H&M opened its first store in mainland China 10 years ago. Today H&M group revenues in China amount to SEK 11 billion (approximately USD 1.3 billion) in more than 500 physical stores and online. The H&M group brand Monki has had a strong development in China since its launch on Tmall and the collaboration between the two groups is now being extended to include both the H&M brand and H&M Home. There are also far advanced discussions regarding the launch of the remaining brands in the H&M group on Tmall.
“As one of the world’s most innovative fashion companies, H&M is a perfect fit for Alibaba’s Tmall platform,” says Michael Evans, President of Alibaba Group. “We are honored to expand our cooperation with H&M and host their flagship store, enabling H&M brands to engage with our half a billion consumers.”
“We are very happy to be able to make H&M even more accessible in mainland China. Tmall is an important complement to our existing physical and digital stores. We see great potential for substantial future growth and Tmall will be an important part of this,” says Karl-Johan Persson, CEO of the H&M group.
Nils Vinge, Head of Investor Relations, H&M group, +46 8 796 52 50, email@example.com
Kristina Stenvinkel, Communications Director, H&M group, +46 8 796 39 08, firstname.lastname@example.org
Deborah Binks-Moore, International Corporate Affairs Director EMEA, Alibaba Group, +44 797 383 0123, email@example.com
Candice Huang, International Corporate Affairs U.S. Alibaba Group, +1 202 716 7446, firstname.lastname@example.org
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, Cheap Monday, & Other Stories, H&M Home as well as ARKET. The H&M group has 43 online markets and more than 4,500 stores in 69 markets including franchise markets. In 2016, sales including VAT were SEK 223 billion. The number of employees amounts to more than 161,000. For further information, visit about.hm.com.
Alibaba Group: Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.
Tmall: Launched in 2008, Tmall (www.tmall.com) caters to consumers looking for branded products and a premium shopping experience. A large number of international and Chinese brands and retailers have established storefronts on Tmall. According to iResearch, Tmall was China’s largest third-party platform for brands and retailers in terms of gross merchandise value in 2016. Tmall is a business of Alibaba Group.