Abercrombie & Fitch Co. (ANF) Stock Pops on Zalora Partnership

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Abercrombie & Fitch Co. (NYSE:ANF) stock was up on Monday following news of a wholesale deal with Zalora.

Abercrombie & Fitch Co. (ANF) Stock Pops on Zalora Partnership

Abercrombie & Fitch Co. says that it has reached an agreement with Zalora to sell its merchandise through the company’s online retail stores. Zalora is a major online store to buy fashion products from in Asian countries.

The deal between Abercrombie & Fitch Co. will have Zalora start carrying the Hollister brand next week. products from the Abercrombie & Fitch brand will start showing up on the online shop sometime later this month. The retailer offers deliveries as quick as three hours after an order is made and free returns up to 100 days after a purchase.

Abercrombie & Fitch Co. notes that this deal will allow it to sell products to Zalora’s more than 600 million customers. Zalora’s online marketplace currently sells to customers in 11 countries. This includes markets such as the Philippines, Hong Kong and Taiwan.

“We are looking forward to partnering with ZALORA to build on our strong base of loyal customers across Southeast Asia,” Fran Horowitz, CEO of Abercrombie & Fitch Co., said in a statement. “We work hard to connect with customers wherever, whenever, and however they prefer to shop and we continue to invest in relationships and innovation to support that.”

Abercrombie & Fitch Co. and Zalora haven’t announced any details of the deal. This includes any financial information concerning the wholesale agreement.

ANF stock was up 3% as of noon Monday, but is down 8% year-to-date.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/abercrombie-fitch-co-zalora-anf/.

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