"As one of the world’s most innovative fashion companies, H&M is a perfect fit for Alibaba’s Tmall platform," said Michael Evans, president of Alibaba group. "We are honoured 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," said Karl-Johan Persson, chief executive officer of the H&M group.
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 $1.3 billion) in more than 500 physical stores and online. (RR)
ALCHEMPro News Desk – India
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