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Category: General

Retail News Asia is committed to providing both local and global retailers with the latest General Retail news throughout the Asian market. This on a daily base.

  • AirAsia expands Penang hub

    AirAsia expands Penang hub

    Travellers flying out of Malaysia’s northern hub Penang can now book AirAsia newest flights to Chengdu, the capital city of Sichuan Province, China.

    AirAsia will launch a Penang- Chengdu service 8 March with three weekly direct flights.

    AirAsia Malaysia CEO Riad Asmat said: “Penang is one of our largest secondary hubs in Peninsular Malaysia, to which we flew more than 2.4 million guests to the island last year. This is our first route from Penang to Mainland China, and we are confident this additional route will continue to boost visitor arrivals into Penang, and vice versa.”

    Members all-in fares from Penang to Chengdu start from MYR99*, available for booking on airasia.com and the AirAsia mobile app until 19 January 2020, for travel between 8 to 28 March 2020.

    Return flights with three-day, two-night hotel stays starting from as low as MYR332** per person are also up for grabs through SNAP on airasia.com.

    Best known as home to the adorable giant pandas, Chengdu is a thriving city with many natural, cultural and historical sights. Some of the must-visit attractions include the Chengdu Research Base of Giant Panda Breeding, Jinli Ancient Street and the Leshan Giant Buddha and Wenshu Monastery.

    Named by UNESCO as a “City of Gastronomy”, many popular Chinese dishes such as Mapo Tofu and Kung Pao Chicken originate from the region. Travellers can also choose to unwind by enjoying aromatic tea at any of the local teahouses.

    Chengdu is also a gateway to the western territories of China, including Tibet, which its capital Lhasa is home to the historical centre of Tibetan Buddhism and famous Potala Palace; as well as the Unesco World Heritage Site Jiuzhaigou, one of the most scenic places in China.

    Besides Chengdu, AirAsia currently flies to 12 destinations from its Penang hub, namely Bangkok, Ho Chi Minh City, Surabaya, Jakarta, Medan, Singapore, Kuala Lumpur, Johor Bahru, Langkawi, Melaka, Kota Kinabalu and Kuching.

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  • No respite likely for Hong Kong-based retailers

    No respite likely for Hong Kong-based retailers

    Hong Kong-based retailers will continue to face tough times as domestic and international issues impact the economy according to a leading analyst.

    Anne Ling, an equity analyst at the investment bank and financial-services company Jefferies Group,  says every 10 percent decline in retail sales impacts the earnings-before-tax (EBIT) of Hong Kong retail companies by between 7 percent and 55 percent. Retail sales in October and November fell by about 24 percent and during the first 11 months of last year were down by 10.34 percent.

    “For international brands like Prada, Samsonite and L’Occitane, we estimate the impact at the sales level is not that material [because] Hong Kong [represents] less than 2 percent to 5 percent of sales. However, at the EBIT level (circa 3 percent to 7 percent) Hong Kong has a higher contribution.”

    Ling warns Hong Kong-based retailers are vulnerable to a risk of the further market slowdown from a higher unemployment rate and weaker consumer confidence in the city.

    “In such times, the immediate lever to hand for brands and retailers is to increase cash flow by reducing inventory and staff and/or rental costs. However, over the medium term, we would expect most players to reset or readjust their Hong Kong store networks to avoid over-reliance on tourist spending.

    “We see a need for the Hong Kong and international brands and retailers listed in Hong Kong, which have heavily de-rated in recent years, to review their business strategies and seek out new business drivers, [so] that they remain relevant to investors.”

    Ling says she expects Sino-US tensions to continue while the mainland Chinese government focuses on stabilizing economic growth this year.

    Given that backdrop, Jeffries would favor recommending investment in Hong Kong-based retailers and manufacturers of low-ticket items like staple goods, food retailers and the fast-food segment, as they are more resilient.

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  • Fast Retailing cuts earnings forecast on Hong Kong

    Fast Retailing cuts earnings forecast on Hong Kong

    Fast Retailing, the parent of the Japanese fast-fashion retailer Uniqlo, has reduced forecasts for its full-year operating profit by 11 percent.

    The Japanese company says its business has been adversely affected by protests in Hong Kong and a trade war between Japan and South Korea that resulted in a boycott of Japanese products in a territory that contains the most Uniqlo outlets in a single territory after China.

    “Korea is a very important segment for us, and it’s not clear how long this situation will continue,” said Fast Retailing CFO Takeshi Okazaki.

    Fast Retailing has reported consistently increasing earnings since 2016 – until now. In the current financial year’s first quarter, sales dropped by 3.6 percent, while its international operating profit fell 28 percent.

  • Cebu Pacific kicks off new year with weekend seat sale

    Cebu Pacific kicks off new year with weekend seat sale

    Start the new year right by jetting off to Clark, an underrated destination in the Philippines with Cebu Pacific’s first seat sale of the year. From 10 January 2020 till 14 January 2020, all flights to the destination are on sale from as low as SGD 90 (USD 66.55), with a travel period from 1 February 2020 to 30 June 2020.

    With exciting seat sales lined up throughout the year, the carrier aims to make travel more convenient and affordable, allowing Singaporeans to enjoy quick getaways and explore new and unique destinations in the Philippines.

    Located in the heart of the Philippine’s Central Luzon region, Clark is a hidden gem that offers visitors a unique fusion of urban and cultural experiences. From teeing off on a world-class championship golf course at the Mimosa and Fontana Resort and Country Clubs, to relaxing in the thermal springs of Mount Pinatubo at Puning Hot Spring, it is just four hours away from Singapore with Cebu Pacific.

  • Vietjet Announces Five New Routes to Japan and Commences Two New International Routes from Can Tho

    Vietjet Announces Five New Routes to Japan and Commences Two New International Routes from Can Tho

    Vietjet has unveiled a total of seven new routes, further expanding its international flight network. This includes the announcement of five new routes linking Hanoi, Da Nang and Ho Chi Minh City to multiple destinations in Japan, and the commencement of two new routes connecting Can Tho with Seoul and Taipei.

    The announcement of the launch of five new routes between Vietnam and Japan took place at Furama Resort’s International Convention Palace in Central Vietnam on 13 January 2020, where Vietjet took part as a member of the Keidanren (Federation of Economic Organisations in Japan). The announcement ceremony during the Japan – Vietnam Bilateral Tourism Promotion Conference, which welcomed more than 1,000 delegates from Japan, including officials from Japan’s National Assembly, the Japanese government and leaders from major Japanese corporations. Vietnam’s Deputy Prime Minister, Vuong Dinh Hue, and the Secretary-General of the Liberal Democratic Party of Japan cum President of the Japanese-Vietnamese Parliamentary Alliance, Nikai Toshihiro, were among those that attended the ceremony.

    The five new routes, Hanoi – Nagoya, Ho Chi Minh City – Nagoya, Da Nang – Nagoya, Hanoi – Fukuoka and Hanoi – Kagoshima, are expected to commence operations in 2020. With a total of ten direct routes now connecting Hanoi, Ho Chi Minh City and Da Nang to Tokyo, Osaka, Nagoya, Fukuoka and Kagoshima, the new flights will continue to facilitate positive bilateral relations between Vietnam and Japan culturally and economically while contributing to Vietnam’s goal of attracting one million Japanese tourists in 2020.

    Vietjet has also inaugurated its first two international services connecting Can Tho, the hub city of the Mekong Delta region, with Taipei and Seoul. Attending the launch ceremony on the morning of 12 January 2020 at Can Tho International Airport were President of the Vietnam Fatherland Front Central Committee Tran Thanh Man, Chairman of People’s Committee of Can Tho City Le Quang Manh, Vietjet Managing Director Luu Duc Khanh, Vietjet Vice President Do Xuan Quang and other leaders from related Ministries, Departments and Authorities. During the event, Vietjet also donated to the Fund for the less fortunate of Can Tho City to usher in the Tet season for the less privileged.

    The Can Tho – Taipei route operates four return flights per week starting from 10 January 2020. The flight departs from Can Tho at 12.40 pm and arrives in Taipei at 5.10 pm. The return flight takes off from Taipei at 6.10 pm and lands in Can Tho at 8.55 pm. All in local times.

    The Can Tho – Seoul (Incheon) route will operate three return flights per week starting from 16 January 2020. The flight departs from Can Tho at 4.50 pm and arrives in Seoul (Incheon) at 11.55 pm. The return flight takes off from Seoul (Incheon) at 2.30 am and lands in Can Tho at 6.20 am. All in local times.

    Vietjet currently operates the greatest number of routes and flights to Can Tho International Airport, with seven domestic routes and two international routes. Since the first flight that commenced in 2014, Vietjet has contributed significantly to the transformation of Can Tho’s tourism industry with an average growth rate of 30 percent of the total number of tourists in the city each year.

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  • The improved popularity of Cricket and the billions it makes in India

    The improved popularity of Cricket and the billions it makes in India

    Cricket is one of the most popular sports in countries like the United Kingdom, India, and Australia. However, most of the market share of this sport is taken by India considering how the country has such a large population. In fact, the largest event in the sport, Indian Premier League (IPL) is sometimes responsible for revenues averaging $3 billion within a year.

    In fact, 2004 was the best performing year for the IPL where it managed to generate around $4.1 billion revenue just from advertising, player auctions and viewership fees. The only time that it managed to match the same numbers was in 2017, signaling that the sport is starting to become more and more popular over the last few years after decreasing significantly in the decade.

    How the IPL generates income

    The Indian Premier League, much like any other sports industry in the world relies on advertising, viewership tickets and the auctions conducted on the players. Not to mention dozens of sponsors vying for a spot on the sportsmen’s uniforms and etc.

    Whatever the sports industry gets their hands on, they manage to generate some income out of it, but there are some that are better at it.

    When it comes to world coverage, there is no sport that beats football, but in terms of the volume of viewers, Cricket is starting to climb the ranking thanks to the millions of viewers from India alone.

    You see, by pairing up the prices of the United Kingdom and Australia with the viewership of India, Cricket is able to generate billions of dollars by simply recording the games and airing them on specific channels where they get additionally profitable advertising deals.

    A darker side of Cricket

    Finally, we have one of the most popular and pretty much ancient ways of generating profit from sports. Betting.

    Cricket, much like any other sport in the world has a large betting industry. Every viewer has the opportunity to place a bet on their favorite player as well as a team to predict the outcome of a match. If they were correct, they get a significantly large sum of money back.

    However, considering how Cricket is a sport where almost everything can go wrong within seconds of starting the game, the chance to win is much lower. However, in order to compensate for these issues, especially during the Indian Premier League 2020, most betting companies increase the prize pool to make it more enticing.

    It would be false to say that nobody wins when betting on Cricket, but it’s much harder and complicated when comparing it to betting on football or basketball.

    2019 proceedings to predict 2020

    The IPL conducted in 2019 received the valuation of around $6.8 billion, giving the sport the highest value it has ever seen in the past.

    In terms of ad revenue, the 2019 IPL season managed to bring in slightly more than it’s 2018 predecessor, but that doesn’t mean that 2020 will see an increase on that number as well.

    You see, when industries grow extremely fast over the years, every year becomes harder and harder to match. Imagine a company that had the goal of achieving $20 million in revenue in 2015. Let’s say they managed to do it and increased their goals for 2016 of around $22 million. They reached it as well but with much more hard work and dedication. Say this continues up until 2018 where the company barely managed to reach its goal of $30 million in revenue. So much so that they had to fire some employees along the way just to reach it.

    The $35 million goals for 2019 would become even harder, and thus have the possibility of making the company fail. Constant growth is not maintainable and hyping it up will bring a lot more damage than it will fix.

    Therefore, there are many experts saying that overcoming the expectations of IPL 2020 revenue is going to be nearly impossible.

    Because of this, it is expected that in the year 2020 there will be a lot fewer sponsors vouching for teams and individual players, fewer people watching the events and even players participating in it due to slightly lowered salaries and payouts.

    Overall, the expectations on IPL 2020 performance are very pessimistic, however, should they prove to overcome this pessimism, it’s almost guaranteed to kickstart a new level of confidence in the sport for coming seasons in 2021 and 2022. So IPL 2020 is more of an investment for the sport than the organizers can realize.

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  • Freitag Japan opens store in Kyoto

    Freitag Japan opens store in Kyoto

    Bag and carrying case manufacturer Freitag has opened its fourth outlet in Japan, which was featured in Designboom architectural magazine for its unique interior.

    The Swiss firm, which creates its products from used truck tarpaulins, has set up an 80sqm distribution center in Kyoto in the vicinity of the ancient Nishiki market and the metropolitan Nakagyo-ku pedestrian precinct.

    The store design reflects the industrial style of the firm’s logistics warehouses in Zurich and features a DIY workshop where customers can create their own miniature items from tarp off-cuts.

    Around 1100 recycled one-off bags are currently stored at the outlet.

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  • Hong Kong’s CitySuper evaluating sale options

    Hong Kong’s CitySuper evaluating sale options

    Hong Kong-based firm The Fenix Group may sell its majority shareholding in high-end supermarket operator Hong Kong’s CitySuper Group.

    According to Bloomberg, if potential buyers show interest in the stake, it may be worth between US$300 and $400 million.

    Any potential purchaser at this time will inherit a business in the midst of Hong Kong’s first depression in a decade, and with significant financial stimulus policies expected of the current administration. That said, the supermarket sector has been relatively unscathed by the decline in retail sales since protests began back in June.

    Fenix provided the original funding for the group and may yet decide to retain ownership of the business.

    Hong Kong’s CitySuper Group operates in Hong Kong, Shanghai and Taiwan across three brands, the most well-known its own name.

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  • AirAsia picks creative agency in India

    AirAsia picks creative agency in India

    AirAsia India has appointed Wunderman Thompson South Asia to manage creative duties following a pitch in 2019. The agency will be responsible for brand strategy and shaping the communications narrative in India, taking care of above-the-line and digital creative mandates.

    According to the press statement, Wunderman Thompson understood AirAsia India’s strategic and brand objectives and will be working on developing the brand’s strong and sustainable positioning that will cut across geographies, demographics, and mindsets and deliver differentiated content with incisive insights. A+M has reached out to Wunderman Thompson for additional information.

    AirAsia India is a joint venture between Tata Sons and AirAsia Investment. AirAsia India commenced operations on 12 June 2014 with Bengaluru as its primary hub. Its agenda is to drive salience across markets with customized content and clutter-breaking communication that inspires diverse audiences with its brand promise and the aspirational journey ahead.

    AirAsia India’s CMO Siddhartha Butalia said the agency approached the opportunity with strong strategic insights and compelling creative ideas that bring the emotion and inspiration back to travel. “We’re looking forward to partnering with them to drive consideration and relevance across the customer journey, take off to even greater heights and explore new territories,” Butalia added.

    Senior VP and managing partner at Wunderman Thompson, Kundan Joshee, said AirAsia has a unique value proposition and a distinct challenger brand spirit that makes it such a powerful brand.

    “Our job is to partner with AirAsia and bring alive its philosophy of service, efficiency and innovation. In today’s times, it’s essential for a brand to have multiple conversations with people across touchpoints and this gives us the opportunity to do new-age work and drive interesting conversations around the brand,” he said.

    Closer to home, AirAsia Group and Universal Music Group partnered last year to launch RedRecords, a new label partnership focused on signing, developing and breaking new Asian artists and elevating “A-pop” globally to new audiences throughout the region and around the world. RedRecords will focus on discovering and developing talent from Southeast Asia and throughout the wider continent and form a clear and unique sound that reflects the diverse and rich musical culture of the continent.

    The airline also announced last November that it is expanding its online offering to include flights on other airlines as it transforms airasia.com into Asia Pacific’s leading travel and lifestyle platform. This was done in partnership with leading travel technology company Kiwi.com. It also unveiled SNAP, a new name for flight + hotel packages on airasia.com offering the lowest guaranteed package prices in 2019.

  • Thai oil company PTT joins race for Tesco

    Thai oil company PTT joins race for Tesco

    Thai oil company PTT is said to be preparing to make a bid for the Tesco Asia businesses in Malaysia and Thailand.

    The firm’s retail unit, which also owns the rapidly growing Cafe Amazon chain, will join local retailer Central Group and conglomerate Charoen Pokphand in first-round bids.

    At the beginning of this month, Bloomberg sources were tipping the Tesco Asia business could fetch as much as US$7 billion. But this week, Reuters sources are estimating the deal to be worth as much as US$9 billion. If one of the Thai suitors is successful, the deal could potentially be the second-largest acquisition ever by a Thai company.

    Tesco currently operates about 2000 outlets in Thailand, and another 74 in Malaysia in a local partnership with Sime Darby Group.

    Tesco announced in December it was reviewing the future of the business after receiving expressions of interest. As Inside Retail Asia reported earlier this month, Thai billionaire Dhanin Chearavanont, who owns the Charoen Pokphand Group, and the Chirathivat family-controlled Central Group are among a group of potential investors in discussions with Tesco.

    Meanwhile, Reuters has reported that Thailand’s Office of Trade Competition Commission has issued a rare warning under the country’s anti-monopoly laws, saying it will closely monitor any deal.

    Thai oil company PTT is actively pursuing business expansion outside its core fuel-retailing business. The company is rolling out Amazon Cafe outlets across Southeast Asia, with the latest markets including Singapore and Vietnam.

    In late 2018, the company said it planned to open 20,000 cafes globally, nearly 10 times its then the network of 2300 outlets in Thailand, the Philippines, Laos, Cambodia, Myanmar, and Japan.

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  • OnTheList reveals 2020 plans while marking fourth anniversary

    OnTheList reveals 2020 plans while marking fourth anniversary

    Asian cross-region flash sales platform OnTheList is celebrating its fourth anniversary.

    The firm offers apparel and other brands a subtle means quitting surplus or out-of-season stock as an alternative to scrapping it or selling at a discount in stores where it may impact sales of full-priced goods.

    This year, OnTheList says it will focus on raising awareness of sustainability in the minds of both the retail industry and consumers.

    The company will also be operating in Shanghai, Taipei, and Singapore from new permanent showrooms, alongside managing pop-ups in different Chinese cities, while further expanding the online platform to existing markets. OnTheList is also working actively on sourcing more partnerships and collaborations with brands.

    “With the new year ahead and the support from all the brands and members in Asia, together we take the initiative to bring positive social impact with our platform to raise awareness on sustainable shopping,” said co-founder Diego Dultzin.

    Launched in 2016, OnTheList moved from sporadic pop-ups to weekly flash sales in stores and online across four cities: Hong Kong, Singapore, Taipei, and Shanghai. The firm has helped more than 300 brands with excess inventory and accumulated 251,000 registered active shoppers across the four locations.

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  • AirAsia launches new flights to Chendu from Penang

    AirAsia launches new flights to Chendu from Penang

    Low-cost carrier AirAsia Bhd has launched new flights to Chengdu, the capital city of Sichuan Province, China for travelers flying out of Malaysia’s northern hub Penang.

    These new three times weekly direct flights commencing 8 March 2020 will provide exclusive air connectivity between Penang to Sichuan Province.

    “We are excited to announce our first new route of the new year, welcoming Visit Malaysia 2020 and in conjunction with Experience Penang 2020.

    “Penang is one of our largest secondary hubs in Peninsular Malaysia, to which we have flown more than 2.4 million guests to the island last year.

    “This is our first route from Penang to Mainland China and we are confident this additional route will continue to boost visitor arrivals into Penang, and vice versa,” AirAsia Malaysia chief executive officer Riad Asmat said in a statement today.

    Best known as home to the adorable giant pandas, Chengdu is a thriving city with plenty to do and taste.

    With many natural, cultural and historical sights, some of the must-visit attractions include the Chengdu Research Base of Giant Panda Breeding, Jinli Ancient Street and the Leshan Giant Buddha and Wenshu Monastery.

    Named by UNESCO as a ‘City of Gastronomy’, many popular Chinese dishes such as Mapo Tofu and Kung Pao Chicken originate from the region.

    Travelers can also choose to unwind by enjoying aromatic tea at any of the local teahouses.

    Chengdu is also a gateway to the western territories of China, including Tibet, which its capital Lhasa is home to the historical center of Tibetan Buddhism and the famous Potala Palace, as well as the Unesco World Heritage Site Jiuzhaigou, one of the most scenic places in China.

    Besides Chengdu, AirAsia currently flies to 12 destinations from its Penang hub, namely Bangkok, Ho Chi Minh City, Surabaya, Jakarta, Medan, Singapore, Kuala Lumpur, Johor Bahru, Langkawi, Melaka, Kota Kinabalu and Kuching.

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  • Bamboo Airways soars to $13 million profit

    Bamboo Airways soars to $13 million profit

    Bamboo Airways reported pre-tax profit of VND303 billion ($13 million) in 2019 after one year of flying.

    The private airline expects profits to increase by VND1 trillion ($44.4 million) in 2020, three times higher than last year, CEO Dang Tat Thang said. It is expected the carrier will list on the Ho Chi Minh City bourse in the second quarter this year.

    Earlier, Bamboo Airways had planned an initial public offering (IPO) on a Vietnamese stock exchange at VND60,000 ($2.6) per share to raise $100 million. It is now looking to U.S., Japanese and European investors with experience and resources to buy its shares at VND160,000 ($6.9) a pop as part of its 2020 IPO.

    Launched in January 2019, the airline is now operating 34 domestic and international routes. It has conducted nearly 20,000 flights to date, recording almost 3 million passengers.

    The entry of Bamboo Airways earlier this year has eaten into the market share of national flag carrier Vietnam Airlines and budget carrier Vietjet.

    Bamboo Airways hopes to acquire 30 percent of the domestic aviation market next year as it flies 85 routes, 25 of them international. It also plans to operate 100 aircraft by 2025, carrying 50 million passengers annually.

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  • Vietnam Railways struggles to compete with budget carriers

    Vietnam Railways struggles to compete with budget carriers

    The Vietnam Railways Corporation (VNR) has admitted its inability to meet performance targets because of competition from low-cost airlines.

    VNR transported VND8.4 trillion ($362 million) worth of cargo in 2018, up 5 percent year-on-year, but 1.9 percent off the annual target, chairman Vu Anh Minh said at a recent industry conference. Revenue was VND8.19 trillion ($353 million), the same as in 2018, but only 97.2 percent of the target.

    Railway sector employees earned an average of VND9.12 million ($393) a month, Minh said.

    The railway sector continues to face rising competition on freight transport from the road and marine sectors, and its passenger section has to contend with low-cost carriers and highways, Minh said, but did not provide comparative statistics.

    Furthermore, investment in railway infrastructure has been limited because of bottlenecks in policies and investment mechanisms, including land management regulations. The railway sector has only received 40 percent of state capital earmarked for its business and production activities, and among other things, this has undermined railway traffic safety, Minh added.

    Because the railway infrastructure and stations belong to the state, VNR cannot use its own money to conduct repairs, he noted.

    For instance, VNR needed to spend VND30 billion ($1.29 million) to repair and upgrade infrastructure at the Song Luy station in the southern province of Binh Thuan, but it could not do so because of regulatory constraints, Minh said.

    Vietnam currently has over 3,000 kilometers of railway tracks, none of them high-speed.

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  • Carrefour Easy store opens inside Suning branch

    Carrefour Easy store opens inside Suning branch

    Convenience-store Carrefour Easy has opened inside Chinese retailer Suning.com’s Shanghai Zhongshan store, marking the latest step towards integrating the two retail businesses.

    With sales areas ranging from 100sqm to 250sqm, Carrefour Easy has been building a network of standalone convenience stores in China since 2015.

    The launch inside a Suning store marks the latest development for the business since Suning acquired an 80-per-cent equity stake in Carrefour China last September for US$689.2 million, part of a move by Suning to accelerate the expansion of its brick-and-mortar portfolio into a full-scenario retail model.

    “This is a key step to Suning’s Smart Retail Plan,” said Suning.com chairman Jindong Zhang at the time of the acquisition. “FMCG experience and supply chain capabilities can be integrated with Suning’s full-scenario retail model, solid logistics network and advanced technology. With our smart retail capabilities, Suning can transform Carrefour stores into fully integrated online-and-offline supermarkets to meet evolving consumer demands.”

    Suning then announced five long-term strategies of Carrefour China, including digitalising Carrefour’s physical stores, improving current store models, expanding to lower-tier cities with Suning’s Retail Cloud Franchise Store, integrating with Suning’s convenience store, and opening new stores in the existing market.

    Suning’s home appliances stores opened in more than 200 Carrefour stores the day after the purchase. In early November, Suning Finance integrated Carrefour’s finance system so customers in Carrefour stores could pay with their Suning Finance account.

    In mid-November, Carrefour participated in the single’s day event (Nov 11) for the first time, with all of Suning’s business segments. Additionally, some Carrefour stores in Nanjing and Shanghai built quick-picking warehouses, storing approximately 3000 SKUs, with customers placing their orders online through Suning’s Convenience Store app, Carrefour Mini WeChat program and third-party platforms.

    At China International Import Expo, as a purchaser and exhibitor, Carrefour signed 150 million-RMB purchase contracts. At the end of November, the Italian Trade Agency visited Carrefour China and negotiated the import of Italian products through Carrefour’s supply chain.

    On Black Friday, Carrefour’s online flagship store opened on Suning.com, focused on selling high value imports with delivery services channeled through Suning Logistics.

    In the future, Suning.com will pursue more offline integration with Carrefour China. Other than home appliance stores, Carrefour stores will also incorporate other Suning business models, including in the mother-infant category, sports retailing and movie theatres.