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Suning Appliance buys Redbaby as part of big retail plans
Home appliance chain buys Redbaby shopping portal in its drive to widen appeal and become China's answer to Walmart and Amazon
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Suning Appliance, China's largest electrical appliance retailer, has bought a leading e-commerce seller of maternal and baby products, taking it one step closer to its goal of becoming the country's answer to Walmart and Amazon.
The company runs Redbaby.com.cn China's largest online seller of baby formula, food, diapers and toys, as well as Binggo.com a skincare and cosmetics online shop.
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Suning hopes the deal will help it boost its female customer base, enrich its product mix and achieve its annual online sales target.
The company, which ventured into the e-commerce sector in 2009, has set a sales target of as much as 20 billion yuan (HK$24.5 billion) for its online platform Suning.com for this year. But it achieved only 5.3 billion yuan in sales in the first half due to intense market competition and the sluggish economic environment.
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After the latest acquisition, the company said it was still on track to hit the sales target.
The two websites under Redbaby will continue independently and their products will also be sold in part of Suning's street-level shops.
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