Suning Targets RMB 5 Bln in Online Sales
Southern Metropolis Daily, 6/17/09
President Sun Weimin of Chinese consumer electronics and home appliance retail chain Suning (002024.SZ) revealed that Suning plans to introduce a redesigned and upgraded homepage – its fourth – for its online shopping site in late July. Sun said the retooled site is part of "one of the biggest operating strategies for the future." Suning's general manager for online sales, Li Hao, says over the next two to three years, Suning's B2C sales could total RMB 5 bln.
Suning chairman Zhang Jindong said Suning is currently developing its back-end B2C system, to which end it has dedicated a team of 200 B2C development professionals, and developed strategic partnerships in several areas, including a partnership with IBM on B2C platform development and storage technology. Previously, Suning's online retail presence had been operated by only a management center. The site launched in 2007 with a goal of achieving more than RMB 100 mln in sales annually. That year, Suning had overall sales revenues of RMB 40 bln.
Keywords: Li Hao 002024.SZ B2C consumer electronics IBM online shopping retail sales Sun Weimin Suning Zhang Jindong e-commerce home appliances revenue hardware
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