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Report: Suning to open 15,000 physical stores in 2019

Chinese electronics retailer Suning.com Co. Ltd. plans to open 15,000 physical stores in 2019, Technode reported Jan. 16.

The company is also highlighting smart retail solutions in its sales networks across 350 domestic cities, the report said.

In August 2018, Suning said it was looking to roll out 12,000 franchise stores in small towns across China by 2020. Diverging from the traditional procurement business model, the so-called "Retail Cloud" stores leverage Suning's centralized inventory management and sharing. The company expects the format to improve the operational efficiency, merchandise selection, supply chain management and technology capabilities of stores in rural areas of China.

Alibaba Group Holding Ltd. holds about 20% stake in Suning.