Abercrombie & Fitch Launching On Alibaba's Tmall

Abercrombie & Fitch Co. said Thursday that it is launching the namesake brand and abercrombie kids on Alibaba Group Holding's Tmall. Shares are up 2.2% in premarket trading. Hollister, another Abercrombie brand, has been on Tmall since 2014. Abercrombie & Fitch has 10 bricks-and-mortar stores in mainland China, as well as a local e-commerce site. Abercrombie shares are down more than 52% for the last year. Alibaba shares are up 0.5% in premarket trading, and more than 81% for the past 12 months. The S&P 500 index is up 13.8% for the last year.