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Suning to Open In-Store Laox Stalls
Guangdong-based home appliance and electronics retailer Suning (002024.SZ) plans to open 100 Laox (8202.TYO) stores within its Suning-brand stores in upper-tier Chinese cities in the next three years, qq.com reported November 13. Suning, which acquired a controlling stake in the Japanese electronics retailer earlier this year, expects to have generated JPY 25 billion in revenue from the stores by March 2013, according to the report.
Suning's and China Mobile's (NYSE:CHU, 0941.HK) Shanghai subsidiaries signed an agreement November 11 under which Suning to operate some of Shanghai Mobile's sales and marketing network next year, according to a separate qq.com report. Reports earlier this month detailed Suning and China Mobile's 3G handset promotion partnership.
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