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Suning Tesco's acquisition of Wanda Department Store: Transforming the supply chain or seeking a takeover?

via:博客园     time:2019/2/12 17:10:00     readed:75

图片来源:视觉中国

Image source: Visual China

Text / Luyi

Today, Suning Tesco Chairman Zhang Jindong announced at the New Year group meeting that Suning Tesco officially acquired all 37 department store stores under Wanda Department Store Co., Ltd. (hereinafter referred to as Wanda Department Store) to build department store retail with online and offline stores. Business. In addition, this acquisition only includes Wanda Department Store, and temporarily does not include other resources including Wanda Plaza, including Wanda Plaza.

This is an important part of Suning's 2019 full-scenes retail layout, but the exact amount of the current acquisition has not been disclosed.Suning said that since the relevant information of this acquisition has not yet reached the Shenzhen Stock Exchange information disclosure standard, the company will disclose it in time in the 2019 periodic report after the completion of the project.

According to the daily economic news report, after the acquisition of Wanda Department Store, Suning Tesco will break through the traditional department store concept by exporting the smart retail CPU capability, transforming the supply chain from both digital and experience, creating a brand new department store core competitiveness and strengthening This important piece of the department store further perfects the whole scene and the whole category layout.

Suning Plus omni-channel smart retail

The transformation of the supply chain is the focus of Suning's acquisition of Wanda. Suning Tesco expresses the use of big data, artificial intelligence and other technical means to further enhance the service experience through the overall digital transformation of the department store industry. Zhang Jindong said, “The prosperity of the physical retail industry must not rely on the traditional model. It needs to use Internet technology to improve efficiency and experience, so that users can feel the quality and happiness! ”

In the whole scene retail, Suning has successively launched the “Shun Ning” “, “Shen Xiansheng”, “Shunning Store” and “Shuning Retail Cloud” and other formats, and gradually classed products from home appliances and 3C. Expanded to the supermarket fast-moving, maternal and child and home.

According to Suning’s previously published data, as of mid-December, under the strong promotion of the smart retail development strategy, Suning has opened nearly 7,000 new stores in 2018, of which only 2,900 new Suning stores opened. Nearly 1,900 new stores in Yundian, Suning Tesco Yundian, Suning Essence, Su Xiansheng, Suning Red Kids, Suning Studios, Suning Sports, Suning Auto Supermarket and other formats have also progressed smoothly.

With high online traffic costs, it is important to find cost-effective offline traffic. In the new retail rivalry, Ali and Tencent are actively laying out the line. Ali's main push box is fresh, and Tencent is borrowing from Yonghui Supermarket. The offline traffic entry that Suning found was Wanda. The latter not only complements Suning's offline traffic entrance, but also complements Suning's puzzle in this section of the department store.

The marriage between Suning and Wanda

This is not the first time Suning has “looked at” Wanda, and the relationship between the two parties can be traced back to September 2015. At that time, Wang Jianlin and Zhang Jindong signed a close cooperation agreement to bundle Wanda and Suning cloud merchants.

According to the agreement, Suning Tesco Yundian and other brands will enter the Wanda Plaza, which has already opened or is about to open. The first batch of cooperation projects determined by the two parties is 40. Starting from 2016, the two parties will determine a batch of cooperation projects according to the opening of Wanda Plaza. Wanda Commercial can customize the planning and design according to the needs of Suning Cloud.

In February 2018, Tencent Holdings, as the main sponsor, joined Suning and Sunac to acquire Wanda Commercial for RMB 34 billion and acquired approximately 14% of the shares held by investors introduced when Wanda Commercial Hong Kong H shares were delisted.Suning’s Suning cloud business also announced that it plans to invest RMB 9.5 billion or equivalent Hong Kong dollars to purchase approximately 3.91% of Wanda’s shares. It can be seen that Suning is not satisfied with pure strategic cooperation and wants to take more initiative in Wanda business.

On the one hand, Suning invested more in Wanda Commercial and Wanda Department Stores, and on the other hand, Wanda Department Store was constantly marginalized in Wanda Commercial.

Wanda Department Store, which was born in 2007, entered its heyday in 2011-2013, and together with Wanda Commercial Real Estate, Cultural Industry and Superior Hotels, it is the four pillar industries of Wanda Group. The clock was set up in 2015, which was affected by the overall situation of the retail industry. In addition, Wanda's own performance loss was serious. Wanda Group Chairman Wang Jianlin announced that it would “turn off half of the domestic department stores”.

According to the interface news report, Wanda Stores suffered a loss for the first time in 2014, and only completed 91% of the annual revenue plan in the year, with a net profit loss of 7%. In 2015, the revenue of Wanda Department Store's RMB 23 billion was last seen in the annual report of Wanda Group. Since 2016, Wanda's performance has no longer appeared in the Wanda Group's financial report.

Earlier, there were rumors that Intime Department Store would acquire Wanda Department Store, but it was not finished. Until today, Suning Tesco took over. According to public information, most of Wanda's 37 stores in the country are located in the CBD or downtown area of ​​first- and second-tier cities, with more than 4 million members.

Can Suning, which is fierce in smart retailing, revitalize Wanda Department Store?

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