Suning.com acquires Carrefour China for expanding FMCG operations
Category: #retail  By Pankaj Singh  Date: 2019-06-24
  • share
  • Twitter
  • Facebook
  • LinkedIn

Suning.com acquires Carrefour China for expanding FMCG operations

Suning.com, one of the largest non-government retailers in China, recently announced that it will buy an equity stake of 80% in Carrefour China, the local division of the biggest retailer in Europe, for 620 million Euros (RMB 4.8 billion). Sunning.com will be the controlling shareholder of Carrefour China following the transaction.

Apparently, the deal with Carrefour China will boost the business expansion for Sunning.co in merchandise retailing of all categories and strengthening its competitiveness in the market of fast-moving consumer goods (FMCG). Sunning.com had already acquired 37 stores from Wanda group, a commercial real estate giant earlier this year.

Suning.com has generally been dedicated towards creating a full-scenarios retail ecosystem online and offline and from townships to cities, for creating a shopping experience ready to cater to the needs of the customers at any point of time and place, sources familiar with the matter commented.

Sources mentioned that as the activities between both the companies complement each other, it will effectively help in amassing quality resources such as global supply chain and domestic store network. It will eventually accelerate Suning.com’s new business exploration and specialized operations in the category of consumer goods.

Reportedly, in the year 2019, the FMCG subsidiary of Suning.com had achieved a notable development in shopping scenario creation and supply chain establishment. An impressive progress was observed recently when the order amount of FMCG category increased by 245% on the platform during the 6/18 Shopping Festival.

Supposedly, the acquisition will integrate Carrefour China’s procurement capability and supermarket experience with Suning.com’s multi-dimensional logistic delivery network, retailing model and new digitalized techniques. This will advance the ‘online to offline’ strategy in Suning.com’s FMCG retailing and enhance the profitability and overall competitiveness of both companies.

Suning.com has an advantage of smart retail that will help in the promotion of digitalizing Carrefour China’s existing stores, leading to an innovative supermarket experience, sources said.
 

Source Credit- https://www.prnewswire.com/news-releases/suningcom-announces-the-acquisition-of-carrefour-china-to-achieve-leaping-development-of-fmcg-retailing-operations-300873150.html



About Author

Pankaj Singh

Email: [email protected]   

Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More News By Pankaj Singh

Potential COVID-19 vaccine by Bharat Biotech to enter clinical trials
Potential COVID-19 vaccine by Bharat Biotech to enter clinical trials
By Pankaj Singh

Bharat Biotech International, a leading Indian biotechnology company, has reportedly announced that its potential coronavirus vaccine, Covaxin, has received Drug Controller General of India (DCGI) approval to start hum...

Seattle Genetics reveals positive data from tisotumab vedotin trial
Seattle Genetics reveals positive data from tisotumab vedotin trial
By Pankaj Singh

Seattle Genetics, Inc., a renowned biotechnology firm that focuses on developing antibody-based cancer treatments, has recently revealed positive topline data from its Phase 2 clinical trial (innovaTV 204) assessing ti...

Celltrion receives positive opinion for Remsima® SC from CHMP
Celltrion receives positive opinion for Remsima® SC from CHMP
By Pankaj Singh

Celltrion Healthcare, one of the leading biopharmaceutical companies headquartered in Incheon, South Korea, has reportedly announced that CHMP (the Committee Medicinal Products for Human Use) has recommended the compan...