Rumor: Suning to Acquire Yuebo Music
DoNews, 8/02/12
An industry source revealed today that Chinese consumer electronics and home appliances retailer Suning (002024.SZ) is in secret talks regarding an acquisition of Nanjing-based musical instrument manufacturer and retailer Yuebo Music for a RMB ten-figure sum. Should the acquisition prove successful, Suning will have secured its entry into a market valued at RMB 30 bln, with 30% annual growth. When contacted, a source in Suning's marketing department said they had not heard about any plans to acquire Yuebo.
Established in 1996, Yuebo Music owns more than 100 instrument retail outlets and 45 music schools around China, making it the country's largest retailer of musical instruments. This year, the company announced plans to transition from its traditional retail model to a model incorporating flagship stores, demonstration stores, and a vertical B2C e-commerce platform.
Keywords: Yuebo Music Internet consumer electronics e-commerce hardware music B2C Suning home appliances 002024.SZ M&A
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