Bloomberg News

China’s Suning Plans Move Toward Wal-Mart and Amazon Models

February 21, 2013

Suning Appliance Co. (002004), China’s biggest electronics retailer by market value, plans to expand its offerings to include daily products such as baby-care items and cosmetics.

The company wants to move to a model similar to Wal-Mart Stores Inc. (WMT:US) and Amazon.com Inc. (AMZN:US), Chairman Zhang Jindong told reporters today. The company has brick-and-mortar stores and an e-commerce business.

The retailer and competitor Gome Electrical Appliances Holding Ltd. (493) have been investing in e-commerce in China. The country’s online-retail transactions are projected to more than double to 2.57 trillion yuan ($412 billion) by 2015 from 1.22 trillion yuan last year, according to Analysys International, a Beijing-based researcher.

Suning will also go into service-based products such as customer financing.

To contact the reporter on this story: Anjali Cordeiro in Hong Kong at acordeiro2@bloomberg.net

To contact the editor responsible for this story: Anjali Cordeiro at acordeiro2@bloomberg.net


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Companies Mentioned

  • WMT
    (Wal-Mart Stores Inc)
    • $76.99 USD
    • 0.35
    • 0.45%
  • AMZN
    (Amazon.com Inc)
    • $358.14 USD
    • -2.70
    • -0.75%
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