- Chinese giant to create 10,000 new stores and 8,000 jobs next year 
- Strategy described as 'Open from 1 to N and Integration from N to1'

Chinese commercial giant Suning Holdings Group has revealed its strategy for 
2020, with the firm's founder and Chairman Zhang Jindong announcing that in its 
30th anniversary year the business will create more than 10,000 new stores and 
8,000 new jobs, while investing at least 40 billion RMB (approx. EUR 5 billion) 
in new technologies and logistics infrastructure.

Photo - https://photos.prnasia.com/prnh/20191218/2675225-1 

The company, one of the top three among the top 500 non-state-owned enterprises 
in China with annual revenues of RMB 602.5 billion (approx. EUR 77 billion), 
will continue to invest in its smart retail infrastructure to deliver an 
enhanced customer experience for a new generation of Chinese consumers. 

A 'consumption upgrade' in China is being driven by an increase in consumer 
spend with the emergence of new, more aspirational and affluent consumer 
groups, along with increased purchasing power in China's 'lower-tier' cities ¨C 
smaller, less developed cities that make up half of the country's population. 
This is creating an even greater opportunity for international brands looking 
to access the China market.

Zhang Jindong, Chairman of Suning Holdings Group, referring to China's rising 
sophisticated middle class, said: "Chinese enterprises rely on a 40 
trillion-scale consumer market. China's market volume is the enviable and 
desired by any overseas company. As long as the company wants to do the 
business, there is room. Whoever can more effectively meet and match consumer 
demand at all levels will succeed in the future."

As China's economy has shifted from high-speed development to high-quality 
development, Suning will evolve from expansion at scale and quantity to the 
improvement of quality and efficiency. Speaking at a special meeting at the 
firm's sprawling headquarters in Nanjing, Zhang outlined a strategy called 
'Open from 1 to N and Integration from N to1'.

Open from 1 to N refers to how Suning is opening up its core business of retail 
through multi-channel, full-scenario categories to empower the industry and 
society at large. Integration from N to 1 refers to the integration of Suning's 
scenarios and supply chain, converging online and physical retail to focus on 
consumer experience and providing diversified services of a consistent quality 
for every consumer.

Since its creation in 1990, Suning has formed a smart retail ecosystem with 
retail at its core and industries such as finance and real estate revolving 
around it. By continuing to invest in retail infrastructure including 
commodities, integrated logistics warehouses - including those manned by robots 
and drones - and technology, the business aims to provide an enhanced consumer 
experience. 

Announcing the strategy for the year ahead, Zhang also revealed that Suning has 
now opened more than 4,400 of its Retail Cloud Stores - the name given to its 
franchise model which unlocks the power of the firm's value chain for 
entrepreneurs in more rural locations outside of China's larger cities. Earlier 
in 2019, Suning acquired 37 Wanda Department Stores and an 80% equity stake in 
Carrefour's Chinese operations for EUR 620m, bolstering its bricks-and-mortar 
retail portfolio.

About Suning Holdings Group

Founded in 1990, Suning is one of the leading commercial enterprises in China 
with two public companies in China and Japan. In 2019, Suning Holdings Group 
ranked as the top three brands among the top 500 non-state owned enterprises in 
China with annual revenues of RMB 602.5 billion (approximately EURO 77.24 
billion) and continued to top the list of Internet retailing category. Adhering 
to the enterprise mission of "Leading the Ecosystem across Industries by 
Creating Elite Quality of Life for All", Suning has strengthened and expanded 
its core business as retail through a corporate ecosystem comprised by multiple 
vertical industries, including commercial real estate, financial services and 
sports. Suning.com, the main subsidiary pioneering in online and offline 
retailing, has been listed in the Fortune Global 500 for three successive years 
from 2017 to 2019.

SOURCE: Suning Holdings Group

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   Caption: Zhang Jindong, founder and chairman of Suning Holdings Group