Suning: 2020 Revenue to Reach RMB 680 Bln

Moneyweek, 1/16/12

Zhang Jindong, chairman and president of Chinese consumer electronics and home appliances retailer Suning (002024.SZ), recently estimated that Suning's total revenue will reach RMB 680 bln by 2020. RMB 300 bln is expected to come from the company's B2C e-commerce platform Suning.com, while another RMB 350 bln will come from the company's bricks-and-mortar retail outlets. Zhang added that Suning aims to develop a "Wal-Mart + Amazon" online-offline business model.

Editor's Note: Suning's total sales revenues were RMB 75 bln in 2010 and RMB 67.4 bln in the first 9 months of 2011. Suning recently estimated that 2012 sales from the company's e-commerce platform would reach RMB 30 bln (see "Suning.com: 2012 Sales Volume to Reach RMB 30 Bln," MD 11/08/11 issue.)

Keywords: Zhang Jindong consumer electronics e-commerce hardware retail revenue B2C Suning business model home appliances 002024.SZ Suning Yigou

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