Suning to open 50 stores during National Day holiday

Sep. 30, 2009 (China Knowledge) - Suning Appliance Co Ltd<002024>, one of the largest privately-owned electrical appliance retailers in China, plans to launch 50 chain stores during the eight-day National Day holiday starting from tomorrow.

The home appliance retailer will open 22 new stores and 28 newly renovated stores in the upcoming Golden Week, aiming to grab larger market share.  60% of these new stores are flagship stores and key stores, which is in accordance with Suning's key store-oriented business expansion strategy.

China's home appliance market is estimated at around RMB 800 billion at present, and sales during the golden week is expected to take up 10% of that of the whole year.

The launch of new stores, along with other promotional campaigns initiated by the retailer will further enhance the domestic consumption and consumer confidence amid the recovering economy, according to Lu Renbo, deputy secretary of the China Electronic Chamber of Commerce,

Suning expects to open 200 stores by the end of this year, which will boost the total number of its retail outlets to over 1,000.