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Tag: wanda

  • China’s Wanda to sell 48 malls in US$6.9 billion deal

    China’s Wanda to sell 48 malls in US$6.9 billion deal

    In a bid to aid its liquidity amidst a challenging real estate market, the China-based real estate tycoon, Dalian Wanda Group, is strategizing to liquidate 48 of its shopping complexes.

    Details of the Deal

    In this context, a joint venture steered by Hong Kong’s PAG investment firm will procure shares in 48 regional firms that undergird Wanda Plaza malls throughout the country. The venture includes other prominent players such as Tencent Holdings, Sunshine Life Insurance, Taikang Life, and a subsidiary of the e-commerce behemoth JD.

    Dalian Wanda Group anticipates a hefty return of 50 billion yuan (equivalent to US$6.94 billion) from this transaction, which is slated to be finalized in the second half of the current year.

    About Dalian Wanda Group

    Dating back to its establishment in 1988, and headquartered in Beijing, Dalian Wanda Group has emerged as one of China’s leading real estate developers. The diversified business operations of the group also span across a film company, a sports entity, and a children’s entertainment venture.

    Questions & Answers

    What is the purpose behind Dalian Wanda Group’s sale of its 48 shopping malls?
    The sale is primarily aimed at raising funds amidst a challenging real estate market.

    Who are the prospective buyers of these shopping malls?
    A joint venture led by Hong Kong-based investment firm PAG, involving Tencent Holdings, Sunshine Life Insurance, Taikang Life, and a division of JD, is set to acquire shares in the 48 regional entities backing Wanda Plaza malls across China.

    What is the expected monetary gain from this transaction for Dalian Wanda Group?
    The group anticipates to receive 50 billion yuan, equivalent to US$6.94 billion, from this deal.

  • Suning develops omnichannel smart retail through Wanda department stores

    Suning develops omnichannel smart retail through Wanda department stores

    Suning.com, the Fortune Global 500 retailer owned by Suning Holdings Group, one of the largest commercial enterprises in China, recently announced the establishment of its Department Store Group. It will focus on professional operations of fashion department store business to strengthen its full-scenarios development in online-and-offline smart retail and improve the shoppers’ experience.

    The Company will also acquire nationwide all Wanda Department Stores, belonging to Wanda Group, the large Chinese commercial real estate developer, to expand its bricks-and-mortar retail portfolios and facilitate the all-categories merchandise supply chain to satisfy more local consumers and boost Chinese retail market profits.

    As the leading omni-channel smart retailer in China, Suning.com has always been committed to building a full-scenarios retail ecosystem both online and offline to create diversified shopping experiences visible and ready to serve consumers anytime and anywhere. The establishment of the new group with acquisition of Wanda Department Store is expected to further reinforce Suning.com’s offline advantages, improving its overall retail network resources and increasing the business potential of the Company to develop new business opportunities of all-categories merchandise operation, especially of fashion, lifestyle products and fast-moving consumer goods.

    The 37 Wanda Department Stores are located in first- and second-tier cities in China, with more than 4 million registered customers. Through the deal, Suning.com will also bring its powerful technology capabilities such as data learning, artificial intelligence, IoT to accelerate the digitization of operation management for traditional department stores to increase the overall service experience and profitability of the industry.

    Zhang Jindong, Chairman of Suning Holdings Group said: “The prosperity of the physical retail industry must not only rely on the traditional model and experience. It needs to embrace innovative technology and market concepts to continuously create quality and customized services for consumers.”

    Suning and Wanda has built a strategic cooperation since 2015 and strengthened the partnership in 2018 with the former’s acquisition of a tiny stake in the latter’s commercial management subsidiary.

  • Nome Sweden revealed massive expansion plan in China

    Nome Sweden revealed massive expansion plan in China

    Swedish designer brand Nome has launched a new store at Guangzhou Baiyun Wanda. The brand plans to open more than 300 stores in China’s most central shopping centres within a year, with a projected total turnover of more than RMB2 billion (US$290.6 million).

    In the next three to five years, Nome plans more than 2000 stores in China and in excess of 1000 stores overseas. The global business scale is planned to reach RMB50 billion ($7.265 billion), creating a global brand of home furnishing.

    To mark the Guangzhou launch, the brand installed a modernised version of a traditional Guangzhou postal kiosk outside the store. The reimagined newsstand featured a translucent shell emanating blue and white lights to evoke a Nordic style, perceived by the brand as having become more popular amongst Chinese consumers in recent years.

    Swedish designer brand Nome covers 10 categories and more than 3000 SKUs in store, including lifestyle, home, furniture, clothing, digital, beauty, food, shoes, luggage and travel items.

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  • Wanda and Tencent join forces for omnichannel retail

    Wanda and Tencent join forces for omnichannel retail

    Dalian Wanda Group and Tencent Holdings Ltd will join forces to set up an internet technology firm, strengthening their position in retail.

    Dalian Wanda, which Is the largest property developer in China, will own 51% of the venture and Tencent 42.48%, with the remaining 6.52% going to Gaopeng, a joint venture between Groupon and Tencent.

    The project combines technology and brick-and-mortar retail and it is hoped that developing an omnichannel offering will help the businesses compete in New Retail, a space in which Alibaba is currently the world leader.

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  • China’s biggest retail owner posted declining revenue, again

    China’s biggest retail owner posted declining revenue, again

    Dalian Wanda Group, the largest mall owner in China, posted a 10.8 percent decline in revenue for 2017 — making it the second year in a row the retailer reported a drop.

    Wanda explained its performance of only about $35 billion in revenue as being due to selling off its cultural and tourism holdings, reported the Wall Street Journal. The company’s cultural assets account for 28 percent of its overall revenue, or nearly $11 billion.

    Analysts say Wanda’s retail portfolio is not the cause of its reported revenue decline.

    “Wanda is doing quite well in its shopping malls, from their rental-income growth and high occupancy rate,” S&P Global Ratings’ Dennis Lee told the Journal. Income derived from rents increased 30 percent this year for the company.

    In its report, Wanda also noted for the first time that 93 percent of its holdings are located in China. The information — never previously disclosed, according to the Journal — may be in response to the pressure the company faced last year amid the Chinese government’s crackdown on capital outflows to sell off its overseas real estate and other holdings.

    Last fall, Wanda was selling five foreign developments, including One Beverly Hills, a $1.2 billion condo and hotel project, while in July it sold of $9.4 billion worth of its hotel portfolio.

    In 2016, Wanda’s decline in revenue was explained by a drop in residential markets.

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  • Wanda Partners With Microsoft Accelerator To Empower Digital Transformation

    Wanda Partners With Microsoft Accelerator To Empower Digital Transformation

    Wanda Group, one of the Fortune Global 500 List companies, is tapping into the resources of Microsoft Accelerator to enable the next wave of digital transformation of the retail industry and commercial properties in China.

    For the past four and a half years, Microsoft Beijing Accelerator has accelerated 140 startups in China with alumni in the areas of hybrid cloud, IoT, big data, artificial intelligence, etc. These startups have strong strengths in technology innovation. Combining Wanda Group’s customer resources and Microsoft Accelerator’s alumni, startups will be empowered to do more for digital transformation in China.

    “As an entrepreneur myself, I’ve seen many technology startups face the same challenges. They focus on technology innovation and product development without much customer insight and user data,” said Hanna Lavy, head of Microsoft Global Accelerator Program. “Partners like Wanda Group can provide in-depth business insights and rich customer data to startups. Microsoft Accelerator looks forward to working with Wanda Group to enable startups to transform retail companies and commercial properties into digital businesses.”

    “Wanda Group and Microsoft share the same views on digital technology and business. Cloud computing, big data, IoT and artificial intelligence are the main drivers of the digital transformation of business,” said Jennifer Feng, Deputy GM of IT Center at Wanda Group.” Wanda Group has rich insights and user data as the leader of commercial property and retail business in China and we will partner with Microsoft to bring startups closer to end customers. Microsoft Accelerator will also provide qualified startups to be enlisted as vendors for Wanda Group. ”

    As the world’s largest commercial property enterprise, Wanda Group has opened 189 Wanda Plaza projects in China and plans to open 50 more in 2017. Three years ago, Wanda Group began its fourth business model transformation from commercial property to modern services with the result of forming four sub business groups including Commercial Properties, Cultural Industry Group, Internet Technology Group and Financial Group. Digital transformation is at the core of Wanda Group.

    Wanda Group IT embarked on enabling digital transformation of Wanda Group three years ago. For the past three years, Wanda Group IT has developed Wanda Building Information Modeling(BIM) System and Wanda Intelligent Building Management System in this endeavor with the adoption of Microsoft Azure and HDInsight big data analysis. Wanda BIM system seamlessly integrates the end-to-end information management process from project bidding to delivery for commercial property developers, designers, builders and supervisors.

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  • Korean’s Eland To Build Tourism JV With China’s Wanda

    Korean’s Eland To Build Tourism JV With China’s Wanda

    South Korea’s apparel brand Eland recently signed an agreement with China’s Wanda Group to establish a tourism joint venture in South Korea.

    This is reportedly the first cooperating result of the two parties since they signed their leisure industry investment agreement in June 2014.

    According to the agreement, Eland and Wanda will each hold a 50% stake in the tourism JV and they will each account for half of the board of directors. However, Eland will be responsible for the operation of the JV. The two parties are expected to agree on actual processes, including deciding on a corporate name, in March 2016 at the latest.

    A representative from Eland said that by combining Eland’s diversity with Wanda’s online advantage in China, the two parties will achieve better results. Wanda Group operates in various industries such as department stores, hotels, real estate, and tourism in China. By cooperating with Wanda, Eland plans to transfer its major business from fashion to logistics.

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  • Wanda to invest in more sports clubs

    Wanda to invest in more sports clubs

    The founder of Chinese retail, property and entertainment powerhouse Wanda Group says he plans to invest in more globally recognised sports clubs.

    Wang Jianlin, chairman of Wanda Group, ranked China’s richest man by Bloomberg with assets of $42.1 billion, bought 20 per cent of Spanish football club Atletico Madrid in April for euro 45 million. He also bought Swiss sports marketing group Infront for euro 1.05 billion.

    This week he said he will buy into “at least three more” sports clubs this year.

    Chinese press agency Xinhua reported Wang Jianlin saying: “Within this year, Wanda will still buy at least three sports companies. Upon the completion of these mergers and acquisitions, Wanda is going to be the world number one in the sports industry.”

    It’s all part of a strategy to boost Wanda Group’s influence in the global sports business, which would also benefit its retail networks through brand associations.

    Beijing-headquartered Wanda Group owns retail, entertainment and hotel businesses, including the AMC cinema business. He is expanding into theme parks and film production and has a commercial property arm, Dalian Wanda Commercial Properties, which owns shopping malls.

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  • Wanda crowdfunding raises $807m

    Wanda crowdfunding raises $807m

    Chinese language property developer Dalian Wanda Group has raised US$807 million by way of a crowdfunding app which might be used to spend money on 5 new Wanda Plaza buying malls.

    The Wanda crowdfunding app ‘Secure earner No 1’ is the corporate’s first foray into web finance. It raised 5 billion RMB in simply three days, creating a brand new international crowdfunding document within the course of after its June 12 launch.

    Wanda raised RMB500 million in a primary wave of funding from particular person buyers and contributed to the sudden on-line “seckill” – inside the first 50 minutes of the launch the RMB 100 million mark had been damaged. On-line subscribers included institutional buyers who contributed a complete of RMB4.5 billion.

    Wanda says some individuals who missed out on the restricted quota referred to as Wanda executives urging them to proceed the fund elevating past the restrict.

    “So far, the traditional funding limits set by giant scale crowd funded tasks all over the world reaches into the tens of millions, however a challenge on this scale is decidedly uncommon. For a product to launch and promote out so shortly is sort of a feat,” stated Wanda in a press release.

    Wanda launched ‘Secure Earner No. 1’ in partnership with 99Invoice, an organization it just lately acquired that gives on-line cost platform providers. It bought models in 1000 RMB multiples.

    In comparison with the oversaturated marketplace for monetary funding merchandise, the benefit of ‘Secure Earner No. 1’ lies in the truth that capital funding can stream instantly into Wanda Business’s Wanda Plaza tasks, and presents a a lot larger safety than these investing on the inventory market, the 2 corporations submit.

    “And this is the reason the product was named Secure Earner. It isn’t merely a no-lose deal; unpacking it, we will see that solely on secure foundations are you able to stand to realize. Firstly, the challenge invests in the actual financial system. There are presently too many merchandise available on the market that lean too closely on digital belongings, and for some merchandise buyers don’t even perceive the specifics. The Secure Earner No. 1 Wanda Plaza challenge is according to the nationwide path of business improvement, and considers the present nationwide financial transformation and the larger image of home consumption and urbanisation,” the businesses said.

    “Secondly, we need to urge transparency. The funds raised from Secure Earner No. 1 will all be used solely in development operations for Wanda Plazas. Buyers can get hold of all of the related monetary info from Wanda Business’s revealed supplies.

    “Thirdly, we provide secure returns. Beneath Wanda Group’s robust model attraction, the annual occupancy charges and rental assortment charges from its business actual property enterprise common over 99 per cent. That is sufficient to make sure that buyers can get hold of a secure annualised fee of return of six per cent.”

    Buyers can commerce their crowdfunding shares on 99Invoice’s platform after three months. Long run Secure Earner No. 1 could be transformed right into a REIT or bought by a 3rd social gathering after three years, all choices giving shareholders a return on their capital funding.

    Wanda Group retains the suitable to buy the whole shares after seven years at 1.5 occasions the difficulty worth.

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  • External investors to finance Wanda Plazas

    External investors to finance Wanda Plazas

    China’s Dalian Wanda Commercial Properties Co said on Wednesday four investors have agreed to contribute CNY24 billion yuan (USD3.9 billion) over the coming two years as the first tranche of funding to build around 20 shopping malls.