China’s largest home and appliance retailer Suning has opened its official stores on Alibaba’s Tmall as a key step for the two parties collaboration to drive consumption.
Alibaba said last week it will invest CNY28.3 billion (USD4.6b) in domestic home appliances and electronics device retailer Suning Commerce Co.
Shenzhen-listed Suning will also subscribe to CNY14 billion worth of new shares of Alibaba Group, representing about 1.09 percent stake in the e-commerce giant.
(Source: Shanghai Daily)