NANJING, China, May 16, 2019 /PRNewswire/ -- On May 5, Suning.com, the subsidiary of Suning Holdings Group ("Suning"), announced the 37 Wanda Department Stores it acquired last February officially renamed into Suning.com Plaza. The first reformed store will open by the end of May.
Hou Enlong, CEO of Suning.com, said at the press conference of the company's 6/18 Shopping Festival, the 37 brand-new Suning.com Plazas will operate based on the previous supplier advantages accumulated by Wanda Department Store. But by integrating the online and offline shopping scenarios of Suning, such as RedBaby, Suning JIWU, Suning Convenience Stores, the new store model will be transformed into an innovative smart retail commercial complex, where it enables nowadays urban consumers to eat, shop and entertain.
Together with the existing 19 Suning.com Plazas and 16 Suning Plazas, Suning currently owns and operates 72 shopping complexes, which form the largest self-operated smart retail complex system in China.
As the leading omni-channel smart retailer in China, Suning.com has always been committed to building a full-scenarios retail ecosystem both online and offline to create diversified shopping experiences that are visible and ready to serve consumers at anytime and anywhere. Suning.com Plaza will connect Suning's financial payment methods and provide Suning Logistics free three-kilometer delivery service. It will also invest in the domestic and overseas supply chain capabilities to bring in cutting-edge brands and collaborate with popular fashion buyers, to present trend-setting experiences to consumers.
In March 2019, Suning signed a strategic agreement with Italy Trade Agency to strengthen cooperation between the two parties in introducing quality Italian brands into the Chinese market towards Suning's powerful online and offline platforms. It is seen as an important step for Suning to further enhance its overseas supply chain capability, specializing in fashion and general merchandise category.
In the meanwhile, the advantages of Suning's online and offline channels will be further enhanced in Suning.com Plaza, where consumers will enjoy a comprehensive and diversified convenient service supported by Suning Big Data. A seamless, effortless, and efficient shopping experience is achieved by smart retail solutions and precise marketing personalized for anyone and everyone.
With its own smart retail system as the core, Suning will bring an informational and digital comprehensive innovation to the new Suning.com Plaza, utilize its powerful technology capabilities such as data learning, artificial intelligence, and IoT to accelerate the digitization of management of operation for traditional department stores to increase the overall service experience and profitability of the industry, to re-construct a scene experience model that is more in line with current consumption concepts and habits.
In February 2019, Suning announced the acquisition of all Wanda Department Stores nationwide, which belongs to Wanda Group, the Chinese commercial real estate developer, to expand its bricks-and-mortar retail portfolios and facilitate the all-categories merchandise supply chain to satisfy more local consumers and boost profits of the Chinese retail market.
Founded in 1990, Suning Holdings Group is one of the leading commercial enterprises in China, with two public companies in China and Japan. In 2018, the company was ranked second among China's top 500 non-state owned enterprises for the third consecutive years, with annual revenues of RMB 557.875 billion (approximately EUR 69 billion). With its mission of "Leading the Ecosystem Across Industries by Creating Elite Quality of Life for All", Suning has gone from strength to strength, expanding its core business through diversified vertical industries: Suning.com, Logistics, Financial Services, Technology, Real Estate, Sports, Media & Entertainment, and Investment. Suning.com was listed on the Fortune Global 500 in 2017 and 2018.