Suning to Sign Deals with Global Partners at CIIE 2020 to Bring More High-quality Products into China
NANJING, China, Nov. 6, 2020 /PRNewswire/ -- Suning Holdings Group, China's leading O2O smart retailer, announced that it will introduce new overseas products at China International Import Expo ("CIIE" and "the Expo") to Chinese consumers, along with its subsidiary Carrefour China and Laox. With its smart retail solution, the Group is also set to establish partnerships with global brands and companies to bring more high-quality products into China.
Running from November 5 to 10 in Shanghai, the third edition of CIIE is China's largest import-oriented trade fair dedicated to international companies that are scouting new business opportunities in Chinese consumer markets.
As one of the biggest exhibitors and buyers at the Expo, Suning will increase the purchase of products from countries in Europe and the Americas as part of its ongoing efforts to strengthen cooperation with international home appliances and 3C (computer, communication and consumer electronics) brands. As China's fast-moving consumer goods (FMCG) sector continues to benefit from rising incomes and living standards over the past years, Suning will also prioritize the procurement of FMCG goods, which will account for 60% of total procurement contracts, with food being the largest category.
Carrefour China will ink contracts with Italian Trade Agency (ITA) and Brazilian meat processing giant JBS Group, as well as brands from New Zealand, Singapore and the United States. Meanwhile, Suning International will sign procurement orders with Italian fragrance brand Gellé Frères, Korea Post Shopping and the Government of Quebec in Canada.
As the Expo coincides with the Suning 11.11 shopping festival, Suning will also participate in the investment, procurement and sales-related promotional campaigns for the third CIIE. Carrefour will launch an imported food festival across China, bringing consumers the same products showcased at the Expo while offering a 50% discount on its selection of imported food.
At the first CIIE, Suning reached cooperation with enterprises from more than 20 countries across Europe, Japan and North America. The sales growth of overseas brands on the Suning platform maintained a growth rate of up to 200%. The second CIIE saw Suning establish long-term partnerships with more than 20 suppliers from Italy, France, Germany, Japan, South Korea and the United States. Through cooperation with ITA, Suning launched the "Italian Pavilion" on its online platform, which features 119 Italian brands with a total purchase volume reaching RMB 120 million. Over 150 brands are expected to join Suning International by the end of 2020 and the total purchase volume is projected to exceed RMB 300 million.
As a global leading smart retail service provider, Suning has become a bridge between overseas brands and Chinese consumers. Suning has established a brand-new global supply chain ecosystem by leveraging the platform advantages of CIIE, and introduced more high-quality international products to meet the demand of domestic consumers. At the same time, the company has harnessed its localized smart retail solution to help global brands penetrate the Chinese market with speed and precision.
"Suning continues to increase efforts to open our platform to global partners through forging partnerships with more global brands. Over the last two years, Suning has actively strengthened our global supply chain system through extensive collaboration with CIIE, which allows Suning to bring more Chinese goods to the international market and strengthen our competitiveness on the global stage," said Zhang Jindong, chairman of Suning Holdings Group.
About Suning Holdings Group
Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan. In 2020, Suning Holdings Group ranked second in the top 500 non-state owned enterprises in China with annual revenues of RMB 665.259 billion (approximately US $97 billion) and continued to top the list of Internet retailing category. Adhering to the enterprise mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business as retail through a corporate ecosystem comprised by multiple vertical industries, including commercial real estate, financial services and sports. Suning.com, the main subsidiary pioneering in online and offline retailing, has been listed in the Fortune Global 500 for four successive years from 2017 to 2020.
SOURCE Suning Holdings Group
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