Suning Holdings’ retail subsidiary Suning.com has been ranked China’s most valuable retail brand, finishing 13th on World Brand Lab’s 16th “China’s 500 Most Valuable Brands” list.
This was the second consecutive year Suning finished in 13th place with its brand value totalling RMB269.198 billion (US$39.093 billion), an increase of 17 per cent compared to last year. Its listed brand value has increased by a factor of six since 2009.
In the past year, Suning.com announced operational revenue of RMB244.96 billion ($36.479 billion), up 30.35 per cent year on year; and a sales volume of RMB336 billion ($50.16 billion), an increase of 38.39 per cent.
By the end of March this year, the company owned 12,329 offline brick-and-mortar stores in Mainland China, Hong Kong, Macao and Japan, covering diversified consumption scenarios that include Suning Retail Cloud Franchise Stores, SuFresh (fresh food supermarkets), Suning Xiaodian (providing neighbourhood products and services) and Redbaby (maternal and child supplies stores).
Last February, the company announced the acquisition of 37 Wanda department stores nationwide and in June, it acquired 80 per cent of Carrefour China to improve its full-scenarios ecosystem and expand its all-categories merchandise retailing by reinforcing its market competitiveness in fast-moving consumer goods operations.
“Digitalisation and innovation play vital roles in Suning’s smart retail strategy,” said Suning Holding Group chairman Zhang Jindong. “During the next years, relying on retail technology evolution, Suning will increase its service efficiency, promote the transformation of retail industry. Suning is willing to join hands with global retail brands to build and improve industry ecosystem worldwide”.
