Internet fresh food platform Yiguo has invested HK$950 million into Lianhua. This now makes Yiguo the second largest shareholder of this Chinese supermarket chain operator.
Shanghai Lianhua Supermarket Holdings Company Limited says Yonghui Supermarket agreed to sell its 237,029,400 Lianhua shares to Shanghai Yiguo, accounting for 21.17% of the total issued shares of Lianhua.
A representative from Yiguo said that the investment is in line with Yiguo’s newly announced nationwide strategy. Prior to this, Yiguo’s chief executive officer Zhang Ye said that the company will enhance its offline channel construction. By building a supply chain company, cooperating with offline physical vendors, and establishing nationwide cold chain logistics, Yiguo will realise online and offline full channel construction.
Founded in May 1991, Lianhua Supermarket is one of the earliest supermarket chain operators in Shanghai. At present, it is one of the largest retailers in China and its diversified business models cover hypermarkets, supermarkets, and convenience stores. The company has established a strong chain operation network in over 100 cities in China.
Founded in 2005, Yiguo is reportedly the first fresh food e-commerce platform in China. The company is committed to serving Chinese urban families who attach great importance to the quality of life by providing high-quality food from all over the world as well as one-stop shopping services.
(Source: China Retail News)