Chinese e-commerce giant Alibaba Group Holding Ltd and retail giant Suning Commerce Group Co plan to invest 1 billion yuan ($148 million) to set up an e-commerce firm in Chongqing, a move that is likely to intensify their competition with JD.com Inc, China’s second-largest e-commerce player…Full Article: ECNS.cn Oct 2016
- The Chongqing e-commerce joint venture will be 51% controlled by Suning (CNY 510 million or ~US$75.1 million) and 49% by Alibaba (CNY 490 million or ~US$72.3 million).
- In June 2016, Alibaba’s Taobao acquired just under 20% of (~1.8 billion shares for CNY 28.2 billion) of Suning.
- In September 2016, it was reported that the Suzhou Yangcheng Lake Crab Association signed a mitten crab distribution agreement with Suning.com. JD.com and Alibaba’s Tmall.com also stated they are selling authentic Yangcheng Lake crabs.
- In June 2016, the Dutch dairy, Royal FrieslandCampina, partnered with Suning Commerce Group (Chinese retailer) to sell dairy products in China. Royal FrieslandCampina hopes to expand their market penetration in the provinces of Anhui, Henan, Hebei, and Gansu.
- In March 2016, Baijiu liquor producer, Wuliangye, and Suning Holdings announced a collaboration agreement, the result of which would allow Wuliangye to distribute its products within Suning’s ~2,000 brick-and-mortar stores. Additionally, Wuliangye products will be sold on Suning.com.