China's Alibaba Group announced that they have signed exclusive cooperation agreements with over 20 apparel brands, including Zara and Timberland.
Alibaba said that Tmall.com will become the only third-party online sales platform for those apparel brands in China. However, the group did not reveal the financial terms of the agreements.
Alibaba also announced that they will enhance cooperation with 160 brands, including Adidas and Gap.
Zhang Jianfeng, Alibaba's China retail platform president, said that apparel is an important category for Tmall. They have implemented extensive cooperation on this platform and it is necessary to enhance cooperation with vendors. With the cooperation, Alibaba can promote their successes in its ecosystem.
Alibaba recently hired former Goldman Sachs Vice Chairman and Olympian Michael Evans, who will lead Alibaba's overseas expansion and attract European and American brands. Alibaba currently has 350 million annual active buyers around the world.
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