SOFT DATA
Suning.com is a leading electronics retailer in China. In response to challenges in the era of Internet retail, Suning has unremittingly implemented the strategy of Smart Retail + Connected Scene to promote its full-line expansion, omnichannel online operation and full integration of customer bases. As of 2019, Suning.com has established a nationwide all-scenario offline network consisting of over 13,000 innovative Internet stores of different sizes and types, Suning Plaza (shopping center), Carrefour(hypermarket), Suning 3C and home appliances, Suning Convenience Store, Suning Retail Cloud Store(consumer electronics), and multiple specialty stores - SuFresh (Fresh produce), JIWU(Designer Items), Redbaby(Mom&Baby), etc, and has taken the lead over its domestic peers. Suning.com retained its position among the Fortune Global 500 and topped the 2019 List of China’s 500 Most Valuable Brands with its brand value of RMB 269.181 billion.
In 2019, Suning has completed the acquisition of carrefour China. Carrefour has been in China since 1995 and operated 211 hypermarkets, providing both general merchandise and food, in about 50 cities with about 30 million members. But the recent struggle of the business, whose net loss apprached 600 million yuan in 2018 with revenue down 8% to 29.9 billion yuan, had fueled talk of a potential exit. Founder of Suning confirmed that carrefour China will open 300 new stores in China's tier1-3 cities over the next five years. Carrefour's Chinese brand and operation will remain independent, while benefiting from Suning's retail cloud model, open technology, logistics and supply chain capabilities to better access the lower tier markets.
