Suning to Transform Company Structure, Strategy
Analysys, 2/19/13
At the spring-quarter planning and implementation meeting for Chinese consumer electronics and home appliances retailer Suning (002024.SZ) on February 17, Suning chairman Zhang Jindong repeatedly emphasized the company's plans to "transform." Plans hinge on re-envisioning Suning as a "store+e-commerce+retail service provider" in what the company calls its "cloud business model." The stores and e-commerce of the plan refer to Suning's offline and online operations, while "retail services" refers to the company's localized operations and services.
The meeting was Zhang Jindong's first mention of the cloud business model. Suning will undertake major changes to accommodate the strategy in a number of areas, including organizational structure, yearly planning, operational strategy, and HR and staffing. A plan for the changes will be announced on Thursday, February 21, at which time Suning will also announce its new "VI" visual branding.
Keywords: Zhang Jindong consumer electronics e-commerce hardware retail strategy Suning business model home appliances HR 002024.SZ
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