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Abercrombie Rises After Launch Of New Store On Alibaba Platform

Abercrombie & Fitch (ANF) announced plans to launch its namesake brand and Abercrombie kids on Tmall, sending the teen apparel retailer's shares higher in early trading.

TMALL DEAL: Abercrombie & Fitch announced this morning that it will launch its Abercrombie & Fitch and Abercrombie kids on Alibaba Group's (BABA) Tmall consumer platform for brands and retailers. Hollister, another Abercrombie brand, has been carried by Tmall since 2014, the company said. Effective July 26, Abercrombie will sell its namesake line and abercrombie kids on Tmall, giving it access to 454 million annual buyers across Alibaba's retail marketplaces in China. "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...