Mountain Warehouse partners with Alibaba in time for China's Singles Day
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Version 0 of 1. The 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 11 November. Mountain Warehouse today posted a 24.7 per cent increase in first-half sales to £59.3m as pre-tax profits rose 31 per cent to £4.3m. 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.” Kate Calvert, an analyst at Investec, 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. Mr Neale led a management buyout of the retailer for £85m from Lloyds Banking Group’s private-equity arm in 2013. Mr Neale said trading in the summer had been helped by the wet August while cycling and running ranges had performed strongly. |