Mountain Warehouse plans China launch with Alibaba in time for Singles Day

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Outdoor clothing and equipment retailer Mountain Warehouse is to launch in China in time for Singles Day – the anti-Valentine’s celebration which is the country’s biggest online shopping day. 

The privately-owned retailer is to sell direct to Chinese consumers through T-Mall, the online platform owned by ecommerce giant owned by Alibaba. Singles Day takes place on November 11. 

Mountain Warehouse today posted a 24.7% increase in first-half sales to £59.3 million as pre-tax profits rose 31% to £4.3 million. 

The retailer’s founder and chief executive Mark Neale said: “We have been sourcing products from China for over 10 years but this is a huge opportunity for us and demonstrates out flexible approach to international expansion.”

Investec analyst Kate Calvert said: “Another impressive set of results with the UK firing on all cylinders both in-store and online.

Launch in China on T-mall seen as a low cost way to get the brand out there and an interesting way to see its international appeal.”

Mountain Warehouse – which is at the value end of the market – has more than 200 stores in the UK, as well as shops in Poland, Austria, Germany and the Netherlands.

Neale led a management buyout of the firm for £85 million from minority shareholder Lloyds Banking Group’s private-equity arm in 2013.

Neale said trading in the summer had been helped by the wet August while cycling and running ranges had performed strongly. 

Source Article from http://www.standard.co.uk/business/mountain-warehouse-plans-china-launch-with-alibaba-in-time-for-singles-day-a3092536.html

October 16, 2015 |
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