Dalian Wanda, Suning plan store rollout
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Mall operator Dalian Wanda Commercial Properties is partnering with Suning to open electronics stores at Wanda Plazas throughout the Mainland.
The partnership will see 40 stores open by the end of this year with more planned for next year. Suning, now 20 per cent owned by Alibaba Group, currently has a network of 1600 stores throughout China.
Dalian Wanda has 100 Wanda Plaza shopping centres in China currently and plans to add 35 by the end of this year.
The company is changing nature from its original model as a department store operator into a services-based company. It recently announced the closure of its Superstar karaoke chain as well as some of its less profitable department stores.
The company owns the AMC cinema chain in the US, Hoyts in Australia and China’s largest network of movie theatres.
Questions & Answers
Q.How many new electronics stores are expected to open by the end of this year?
How many new electronics stores are expected to open by the end of this year?
The partnership between Dalian Wanda and Suning plans for 40 electronics stores to open by the end of this year. More stores are also scheduled to open next year as part of this collaboration.
Q.What is Dalian Wanda's current strategy regarding its business model?
What is Dalian Wanda's current strategy regarding its business model?
Dalian Wanda is evolving from a department store operator to a services-based company. This shift includes closing its Superstar karaoke chain and some less profitable department stores as it moves towards a new operational focus.
Q.How many Wanda Plaza shopping centres does Dalian Wanda currently operate in China?
How many Wanda Plaza shopping centres does Dalian Wanda currently operate in China?
Dalian Wanda currently operates 100 Wanda Plaza shopping centres across China. The company has plans to expand this network, intending to add another 35 centres by the end of this year.
Q.Which company holds a significant stake in Suning?
Which company holds a significant stake in Suning?
Alibaba Group now owns a 20 per cent stake in Suning. Suning itself currently operates a large network of 1,600 stores throughout China, providing a substantial retail presence.
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