ABERCROMBIE & FITCH ANNOUNCES STORE LAUNCH ON ALIBABA GROUP'S TMALL
July 20 2017 - 8:00AM
Abercrombie &
Fitch Co. Continues Expansion in China; Builds on Hollister's
Success
New Albany, Ohio, July 20, 2017 -- Abercrombie
& Fitch Co. (NYSE: ANF) today announced the launch of
Abercrombie & Fitch and abercrombie kids on Alibaba Group's
(NYSE:BABA) Tmall, China's largest consumer platform for
brands and retailers. Tmall has carried the Hollister brand since
2014 and starting on July 26, it will also include a full offering
of Abercrombie & Fitch and abercrombie kids products.
With 454 million annual active
buyers across its China retail marketplaces, including Tmall,
Alibaba Group is helping A&F meet the ever-growing and changing
needs of Chinese consumers with a strategic omni-channel approach
spanning online-to-offline. Additionally, with 75 percent of
Alibaba Group's users under the age of 35, and about 80 percent of
its Gross Merchandise Value taking place on mobile, the
demographics on Alibaba Group's China retail marketplaces align
well with the updated A&F brand's target consumer in their
twenties. Tmall enables brands to tap into its big data capability
and innovative marketing tools such as live-streaming to provide
consumers with a shopping experience that's both deeply
personalized and interactive.
A&F is focused on delivering both an engaging
and seamless experience for its customers, whenever, wherever, and
however they choose to shop. A&F currently has ten
physical stores in mainland China and a local site at
abercrombie.cn. While stores remain an important gateway for the
brand, Alibaba Group's vast reach creates an opportunity to meet
the needs of consumers' shopping preferences, including those
without access to a physical store. A&F and Tmall plan to
explore providing additional omni-channel capabilities to
the shoppers.
"Alibaba Group places a strong
emphasis on consumer engagement, which aligns with our focus on
creating a unique online brand experience for our customers, as
well as facilitating a seamless and frictionless shopping
experience. Building on our Hollister brand's successful
partnership with the leader in China's online retail space, we are
excited to bring our A&F brand experience to the broader
Chinese market, beyond the reach of our physical stores through
Tmall," said Fran Horowitz, Chief Executive Officer of Abercrombie
& Fitch Co.
"We are excited to welcome
Abercrombie & Fitch to the Tmall platform," said Jessica Liu,
President of Tmall Fashion, Alibaba Group. "Abercrombie is an
iconic global brand that consumers, both on our platform and in
China, have sought out for some time. We look forward to connecting
our consumer base to the brand and working with Abercrombie &
Fitch to further its international growth."
-------------
About Abercrombie
& Fitch
The Abercrombie & Fitch brand is the iconic global specialty
retailer of high quality casual luxury apparel and accessories for
men and women. With an updated attitude that reflects the
character, charisma and confidence of today's 20+ consumer,
Abercrombie & Fitch remains true to its 125-year heritage of
creating expertly crafted products with an effortless, American
style.
As of the end of Q1, Abercrombie & Fitch
operates 278 stores in 20 countries. It is the namesake brand of
Abercrombie & Fitch Co. (NYSE: ANF). The Company's other
brands include abercrombie kids and Hollister Co.
Media
Contact:
Ian Bailey
Abercrombie & Fitch
(614) 283-6192
Public_Relations@anfcorp.com
Investor
Contact:
Brian Logan
Abercrombie & Fitch
(614) 283-6877
Investor_Relations@anfcorp.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Abercrombie & Fitch Co via Globenewswire
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Abercrombie and Fitch (NYSE:ANF)
Historical Stock Chart
From Sep 2023 to Sep 2024