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.