Suning Will Enter Fast Fashion Industry

Suning signed a strategic cooperation agreement with Sweden's fast fashion brand Lindex, becoming the general agent of Lindex in mainland China. Suning will take this into the fast fashion industry.

According to the plan, Suning and Lindex will play their significant retail and production advantages and set up Lindex online and offline franchised stores. Among them, the physical retail sector plans to open more than 100 Lindex franchise stores in 2014-2017 years.

Lindex, founded in Sweden in 1954, is one of the leading fashion retailers in Europe. It has opened more than 470 stores in 16 countries in the world and sales of about 8 billion 626 million Swedish kronor (about 7 billion 935 million yuan) in 2012. Lindex has the largest market share of women's underwear in northern Europe, and women's clothing ranks second in northern Europe.

Zhang Jindong, chairman of sunning cloud business, said that under the cloud business mode, Suning will expand the whole category of business, integrate channels and the whole customer service, all of which are revolutions around consumer demand. clothing It is an important category in the consumer market, with high consumption stickiness and fast fashion growth. Therefore, cooperation with Lindex can be seen as another milestone in the development of sunning cloud merchants.

It is reported that Suning, as the sole agent of Lindex, will set up Lindex project operation company, responsible for Lindex brand marketing, channel construction, sales and operation, after sales service. In addition to its own business, Suning can also develop Lindex's distribution channels through regional licensing. Lindex is responsible for formulating product design, production, store and service standardization, and assists Suning to promote brand building.

Suning President Kim Ming said, on the one hand, Lindex will give priority to opening stores in the core business circle of Beijing, Shanghai, Nanjing, Guangzhou, Tianjin, Chongqing, Chengdu and other second tier cities, stationing in Suning Plaza, Suning Life Plaza and other quality properties. On the other hand, an online flagship store will be set up to provide convenience for online shopping consumers and to form a competitive advantage over other international fast fashion brands.

According to the plan, it is expected to open the first Lindex store in Shanghai in September 2014 and synchronize the first flagship store in suning.com. In the next four years, Lindex will open more than 100 entities in the country.

Jinming pointed out that Suning's advantages in store development, store operation, storage and distribution, marketing and other retail capabilities will contribute to the rapid development of Lindex. At the same time, the development of Lindex will also help to enhance Suning's retail capabilities, such as establishing a buyer team in the field of subdivision, and improving the replenishment and transfer mechanism of Gaoping stores.