Suning to Build Logistics Bases, May Enter B2C Market

<- February 17, 2009 ->

Xinhua Daily, 2/16/09

Sun Weimin, president of Chinese home appliance and consumer electronics retailer Suning (002024.SZ) has stated that the company would invest several billion RMB to construct 9 logistics bases around China. The bases would be built in Shenyang, Tianjin, Beijing, Wuxi, Chengdu, Chongqing, Xuzhou, Suzhou and Shanghai, and cover a combined area of 400,000 sqm. It will also look to cooperate with third parties to establish a further 16 logistics bases, with the final aim of operating approximately 60 logistics bases nationwide.

The company is planning to enter 70 new cities this year, opening a minimum of 200 stores, and is looking to hire 1,500 management personnel and a further 36,000 staff members. In Beijing, the company is planning to open 20 stores, and hire an additional 4,000 staff.

Suning is also considering launching its own e-commerce B2C shopping platform.

Keywords: strategy, Sun Weimin, forecast, HR, 002024.SZ, B2C, consumer electronics, e-commerce, hardware, Suning, home appliances, retail

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