Suning LAOX Acquisition Of Japanese Women'S Shoes Brand

Su Ningqi's LAOX continues to expand its market in Japan.

Yesterday, the Ministry of Commerce announced that LAOX, a Japanese duty-free shop operator of China Suning group, decided to buy MODE ET JACOMO, a Japanese company that manufactures and sells women's shoes, and will acquire all the shares in July and will be a wholly owned subsidiary.

It is expected to reach hundreds of millions of yen.

In the industry view, Tesco will form a new "cross-border electricity supplier" mode with domestic Suning.

It is understood that

Founded in 1975, there are only about 10 major brands such as "Carino" and "Meda". It is a main industry with sales volume of around 5 billion yen.

There are about 50 stores not only in major Japanese department stores, but also in wholesale and electronic commerce for department stores and shopping centers.

It has its own direct factories in Japan, and more than half of its products are produced in Japan.

Before that, Tesco has already set foot in the clothing business. Since June this year, Tesco has launched its own business.

The product ORIGAMI is a collection of clothes, handbags, accessories and so on, which are designed by LAOX, shirts and jackets made in Japan.

In view of the popularity and demand of overseas tourists, LAOX has joined hands with top Japanese manufacturers to develop "Made in Japan" fashion series for overseas customers.

Tesco said it would take part in the manufacture of shoes, including its shoes, to publicize the quality of Japanese products and expand the sales of its own shops.

The acquisition is the first merger and acquisition activity launched by LAOX. In recent years, Tesco, which was bought by Suning, has developed rapidly in Japan.

In 2014, Tesco turned into a net profit of 1 billion 243 million yen, an increase of 138.29% over the same period last year.

Among them, Chinese tourists contribute immense.

According to official data of Tesco, although they receive guests from more than 70 countries each year, they sell 80% of their sales a year.

A few days ago, Tesco opened third large duty free flagship stores in Tokyo, and plans to invest another 40 billion yen in the next three years, adding 50 stores.

The analysis from the North Commercial Institute of Commerce believes that the category of the department store is also related to the strong development of cross-border e-commerce in China by the parent company suing.

A person familiar with the matter told the Beijing daily news that Suning has established sole proprietorship or joint venture in the US and South Korea to pave the way for cross-border e-commerce.