Suning acquires 37 Wanda stores to speed up new retail expansion

Chinese online retailer Suning.com has acquired 37 outlets of Wanda Department Store, the department store unit of Chinese conglomerate Wanda Group, chairman Zhang Jindong announced at the company’s Lunar New Year meeting held Tuesday. The company didn’t reveal the value of the deal.

The 37 stores are mainly located in central business districts or central areas of China’s first- and second-tier cities and have combined store “memberships” of 4 million, and annual customer traffic of nearly 3.2 billion, according to the company.

Though the acquisition, Suning.com plans to revamp the offline shopping experience and department store supply chain operations by leveraging the power of new technologies like big data and artificial intelligence.

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