Country for PR: China
Contributor: PR Newswire Asia (China)
Friday, August 14 2020 - 07:02
AsiaNet Listed On Fortune Global 500 List for Fourth Consecutive Year
NANJING, China, Aug. 14, 2020 /PRNewswire-Asianet/ -- (002024.SZ), China's leading O2O smart retailer owned by Suning 
Holdings Group, has been featured on the Fortune Global 500 list for the fourth 
consecutive year since 2017. was listed with an annual operating 
revenue of USD $38.97 billion.

Four consecutive years on the Fortune Global 500

The Fortune Global 500 is an annual list compiled and published by Fortune 
magazine, which ranks the world's leading 500 companies by revenue. Over the 
years, has continued its meteoric rise as a result of its innovative 
full-scenarios layout, which combines digital transformation with an unwavering 
commitment to developing burgeoning businesses and establishing its own retail 

Since starting its online-to-offline transformation in 2009, has 
emerged as China's leading smart retailer as a result of its comprehensive 
integration of online and offline retail. In 2019, the retailer's acquisition 
of the Wanda Department Store and Carrefour China has also injected strong 
growth in its FMCG category.

Acquisition of Carrefour China in 2019's diversification into FMCG with Carrefour China provided prime 
growth opportunities for the retailer in the past year. Between January and 
June 2020, saw sales volume for general merchandise increase by 
114.50% year-on-year. Furthermore, on July 30, the official start of's 818 Festival, home delivery orders on Carrefour's channels 
increased 115% from the previous month. has also transformed Carrefour's door-to-door business, ensuring 
delivery within 3km in one hour, 10km in half a day. In addition, the retailer 
has completed construction for fast pick-up warehouses and conducted systematic 
upgrades for Carrefour stores across the country — enabling the FMCG giant to 
truly achieve full-scenario, high-efficiency, cost-effective omnichannel 
shopping and delivery services.

Opening the 6000th retail cloud store

In a challenging environment,'s retail cloud stores empower small 
and medium-sized entrepreneurs to break the barriers between online and offline 
in the wake of the pandemic, creating a new business model that combines the 
supply chain with offline stores and social e-Commerce. In the past three 
years, has opened more than 6,000 retail cloud stores, with its 
service reaching over 200 million users in counties and towns across the 

The transformation from "retailer" to "retail service provider"

Fueled by digital technology and eCommerce, both brands and retailers are 
gradually shifting to an ecosystem that consists of large-scale distribution 
and connectivity. With a 30-year legacy of commitment to exceptional customer 
service, Suning has evolved its offering over the years in order to meet the 
changing demands of consumers. Starting as a traditional retailer, 
quickly evolved into a chain retailer, then entered the eCommerce space, before 
finally entering its fourth decade of operations as a "retail service 

Zhang Jindong, chairman of Suning Holding Group, said: "Ten years of 
development depends on innovation, while a century of development depends on 
services. User experience is always the primary consideration for all 
decision-making at" 

Looking ahead, will continue to focus on providing value for users 
and deepen its offering with retail at its core. By adhering to its commitment 
to service, focusing on long-term value for users and retailers alike, and 
maximizing its retail ecosystem, will continue its uncharted growth 
in retail market.

About Suning

Founded in 1990, Suning Holdings Group is one of the leading commercial 
enterprises in China, with two public companies in China and Japan. Suning, 
which ranks third in the top 500 Chinese private enterprises, is dedicated to 
serving more than 600 million customers worldwide with over 280 thousand 
employees. With its mission of "Leading the Ecosystem Across Industries by 
Creating Elite Quality of Life for All", Suning has shaped an industrial layout 
featuring coordinated development of real estate and financial service with 
retail at the core.

SOURCE: Suning Holdings Group