HONG KONG, Sept 25 China's top home appliance
retailer, Suning Appliance Co Ltd, said it will buy
an infant goods e-commerce site for $66 million to expand its
online footprint the country and broaden its product lines and
better compete against GOME Electrical Appliances.
Suning, which is seen by some as China's answer to Best Buy
, will buy Redbaby.com.cn to widen its product lines, the
firm's vice chairman, Sun Weimin, was quoted as saying on
Suning's official microblog.
Redbaby.com.cn, founded in 2004, is one of country's largest
online shopping sites that mainly sells maternal and child
supplies. Redbaby.com.cn has more than 3 million customers in
nine provinces, according to its website.
In China's intensely competitive online marketplace, Suning
competes with 360buy, E commerce China Dandang Inc,
Amazon.com Inc and Alibaba Group's Taobao Mall. China
has about 210 million online shoppers, according to government
Suning operates a network of about 1,700 stores and said
earlier this month it will open Suning Expo Super Stores in
China that will sell everything from books to daily necessities,
in a move to offset slow growth in its core business.