Suning Archives - Inside Retail Asia
Chinese O2O retailer Suning.com says sales from its online platforms and physical stores rose by 24.27 per cent in the third quarter, reaching RMB 171.43 billion (US$24.4 billion).
Fung Group has sold its Guangzhou Circle K-store network to Chinese retailer Suning for an undisclosed sum.
Chinese O2O retailer Suning.com has achieved an operating income for the first half of the year of US$19.4 billion.
Suning is to buy an 80 per cent controlling stake in Carrefour China for €620 million (RMB 4.8 billion).
Japanese tax-free store operator Laox plans to raise US$94 million to expand its activities in China and boost its e-commerce footprint.
Yonghui Superstores – part owned by Dairy Farm Group – is among at least eight bidders for the Metro China business.
Bern retailer network Intersport has entered into a franchise agreement with major Chinese omnichannel retailer Suning.
Chinese retailer Suning has invested US$129 million into Jack Ma-backed Yunfeng Capital’s third fund.
Suning.com’s first-quarter online sales soared 40.87 per cent as the company’s smart-retail strategy continues to drive the rapid growth.
The Metro China sale has progressed to the shortlisting of four companies invited to submit final bids.
China’s slowing economy was the primary reason for the slowing growth of sales on Alibaba’s Singles Day on Sunday.
Chinese O2O retailer Suning has posted RMB172.97 billion (US$24.79 billion) in operating revenue in its third quarter performance report.