Alo sells $1.5 million in one minute on Tmall, plans eight more Greater China stores

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Summary · why it matters

Alo is defying China's consumer slowdown, selling more than 10 million yuan, about $1.5 million, within one minute of its Tmall presale checkout opening at 12:30 a.m. on Aug. 12, according to Alibaba. The Los Angeles-based activewear and lifestyle brand went on to set a sales record for a newly launched brand in Tmall's sports and outdoor category, even as China's retail sales rose just 0.4% year over year in August and second-quarter GDP growth slowed to 4.3%. On Sept. 16, Alo announced plans to open eight more stores across seven Greater China cities through 2027: two in Shanghai and one each in Beijing, Hong Kong, Macau, Shenzhen, Chengdu and Hangzhou, with a previously announced Hong Kong flagship at K11 Musea slated to open this fall. As of Aug. 14, Alo's bestselling product was its 1,150-yuan Suit Up straight-leg trousers, with more than 10,000 sold, followed by a 1,750-yuan sneaker that sold more than 3,000 pairs, both at full price. Alo is entering a market long dominated by Lululemon, which operated 174 stores in mainland China as of Aug. 2 but saw comparable sales there fall 8% on a constant-dollar basis in its fiscal second quarter.

Impact on assets 3

Artificial Intelligence▲ · 2 stocks
Alibaba Group Holding Ltd
9988
▲ PositiveDemandrelevance

Alo sold over 10 million yuan in one minute on Alibaba's Tmall, setting a record for a new brand in the sports and outdoor category

Consumer Discretionary▼ · 1 stocks
Lululemon Athletica Inc.
LULU
▼ NegativeCompetitionrelevance

Alo's record Tmall launch and Greater China store expansion intensify competition in the market where Lululemon's comparable China sales already fell 8%

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