Suning Easy Purchase: Buy Carrefour China: Fusion of Online and Real Stores
June 28, 2019
Suning easy purchase: China’s leading home appliance sales
On June 23, it announced that it would acquire Carrefour China corporation of France distribution major.
Suning Easy buys an 80% stake in Carrefour China for 48 billion yuan (about 78.2 billion yen, 1 yuan = about 16 yen).
Carrefour China: History
Supermarket: 210 large integrated supermarkets in 51 cities in 22 provinces in China
Convenience store: 24 convenience stores
Office: 6 large warehouses and distribution centers
Carrefour China entered China in 1995. We develop “hypermart” business condition with Walmart of the United States.
However, it recorded a final deficit of 578 million yuan in the 2018 settlement.
The cause of the hardship is that the response to the rise of internet sales has been delayed and it has not been possible to come up with a sufficient countermeasure.
Trend of EC site companies:
Alibaba group of Chinese net mail order largest
February 2018: Following the investment in the Chinese furniture giant, Izu Lun,
May 2019: Invested in Chinese furniture giant Hongyu Miyu,
It has an active movement.
An industry official pointed out that “the acquisition will intensify the confrontation between Tencent, Alibaba and Suning” (“China Management Report” 24th June).
-JETRO
https://www.jetro.go.jp/biznews/2019/06/e6f99a53a14e4af6.html
Carrefour Group > Group > Current news > Carrefour announces the sale of a controlling stake in its activities in China to Chinese group Suning.com