Suning.com Ranked 1st Place Among China's Most Valuable Brand in Retail Industry
NANJING, China, June 26, 2019 /PRNewswire/ -- On June 26, World Brand Lab released its 16th "China's 500 Most Valuable Brands". Suning.com, the retail subsidiary of Suning Holdings Group ("Suning") was listed on the 13th place for the second consecutive years, and ranked No.1 among retail industry, with a total brand value of 269.198 billion yuan (approximately 39.093 billion USD), increased by 17% compared to last year.
Founded in 1990, Suning is one of the leading commercial enterprises in China. Evolving from its main business as retail, Suning has strengthened and expanded its core business through eight vertical industries: Suning.com, Logistics, Financial Services, Technology, Real Estate, Media & Entertainment, Sports, and Investment, among which Suning.com was listed on Global Fortune 500 in 2017 and 2018.
Suning.com started its internet transformation in 2009. In the past ten years, Suning has gone from "+ Internet" to "Internet +" to "Smart Retail", and has completed its own Internet transformation and created a set of retail innovation models that break through theoretical practice for the industry. Compared with 2009, the brand value of Suning.com increased by 6 times.
In the past year, Suning.com announced operation revenue of RMB 244.96 billion (36.479 billion USD), up 30.35% year-on-year; sales volume of RMB 336 billion (50.16 billion USD), increased by 38.39%.
By then end of March, 2019, the company owns 12,329 offline brick-and-mortar stores in mainland China, Hong Kong, Macao and Japan, covering diversified consumption scenarios including Suning Retail Cloud Franchise Stores, SuFresh (fresh food supermarkets) and Suning Xiaodian (provides neighborhood products and services) and Redbaby (maternal and child supplies stores).
In recent years, as the leading omni-channel smart retailer in China, Suning.com has been committed to building a full-scenarios retail ecosystem both online and offline and from cities to townships, to create diversified shopping experiences visible and ready to serve consumers anytime and anywhere. In February 2019, the company announced the acquisition of 37 Wanda department stores nationwide and In June, the company announced transaction with Carrefour China to acquire 80% of its equity stake, to further improve the full-scenarios ecosystem, expand all-categories merchandise retailing with reinforcing its market competitiveness of fast-moving consumer goods (FMCG) operations.
Since 2018, Suning.com has accelerated its global supply chain construction. During the first China International Import Expo in 2018, the company announced its "10 billion Euro procurement plan" to bring in quality goods and services from worldwide. In 2019, Suning signed strategic agreement with Italy Trade Agency to reinforce the commercial communication with Italian company to help "made in Italy" brands and products to enter Chinese market and serve Chinese customers.
"Digitalization and innovation play vital roles in Suning's smart retail strategy. In the next years, relying on retail technology evolution, Suning will increase its service efficiency, promote the transformation of retail industry. Suning is willing to join hands with global retail brands to build and improve industry ecosystem worldwide," Zhang Jindong, chairman of Suning Holding Group, said.
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 respectively. In 2017, Suning Holding ranked second among the top 500 private-owned enterprises in China with annual sales of 65.7 billion USD (412.95 billion RMB). With the mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business through eight vertical industries: Suning.com, Logistics, Financial Services, Technology, Real Estate, Media &Entertainment, Sports, and Investment, among which Suning.com was listed on the 2017 and 2018 list of Fortune Global 500.
For more information see www.suningholdings.com
SOURCE Suning Holdings Group
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