Chinese online retailer said on Friday [7 August 2015] that it has bought a 10-percent stake in domestic supermarket Yonghui Superstores for 4.31 billion yuan (around 700 million US dollars). The deal is part of the online retailer’s campaign to leverage existing networks of bricks-and-mortar stores to boost its supply chain and diversify its offline offerings, as competition with rival Alibaba, which runs leading Chinese online marketplaces Taobao and, intensifies…Full Article: The Global Times Aug 2015

Key Point

  • In 2015, Yonghui Superstores plan to open 179 new stores in mainland China.

ChinaAg Comments

  • In June 2015, Agriculture and Agri-Food Canada signed an agreement with the Chinese e-commerce site in Beijing. As a result, will launch a page dedicated to selling Canadian agri-food and fish and seafood products within the next year.
  • In 2015, the Chinese e-commerce company, Inc, plans to start marketing food products on their site.
  • As of early 2015, Yonghui managed 460 supermarkets across 17 provinces and municipalities (including Beijing, Shanghai, Chongqing, Zhejiang and Guizhou) making it China’s fifth largest hypermarket chain.
  • Established in 2001 and headquartered in Fuzhou, Fujian Province, Yonghui operates 460 medium-sized supermarkets all over China (as of 2015). Yonghui has seen healthy growth which the company attributes to their focus on fresh products, which occupies 40-50% of a single store’s floor space.

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