Netease Tech, 2/01/10
Chinese consumer electronics retailer Suning (002024.SZ) has announced plans to open 100 "Suning Elite" high-end stores in Beijing, Shanghai, Guangzhou, Shenzhen and other cities over the next three years.
Suning has already established an independently audited company, Suning Shangpin Appliances Co., Ltd., to operate the high-end chain. The stores will be self-supporting and will employ their own salespeople instead of vendor representatives. The stores, which will range between 1,500 - 2,500 square meters in size, will be located in shopping malls and other areas with luxury retail in order to target white collar consumers.
Pan Min, deputy general manager of Beijing Suning, said the regional branch plans to open five Suning Elite stores in the capital this year, offering between 5,000 to 6,000 different products.
The first Suning Elite opened in Shenzhen in December 2009, and the second will open in Beijing next week.