H&M will open its first store on Tmall to expand its presence in China
H&M extends partnership with Alibaba to expand its presence in China
H&M's brand Monki already enjoys a strong presence on Tmall and the platform has already integrated H&M brand and H&M Home. The move is in tangent with Alibaba founder Jack Ma's target for the company which he says will hit gross merchandise volume of $1tn in 2020.
Michael Evans, president of Alibaba Group, said: “As one of the world’s most innovative fashion companies, H&M is a perfect fit for Alibaba’s Tmall platform. 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.”
Karl-Johan Persson, CEO of the H&M group, said: “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."