Suning Yigou Acquired 80% of Carrefour China; Stronger Competition in the New Retail Spaces
As operating costs continue to rise and the offline retail sector faces ongoing challenges from the e-commerce sector, one of no-moat Sun Art’s hypermarket competitors, Carrefour, made the headlines after selling 80% of its Carrefour China business. We see this strategy as a small threat to Sun Art, given the latter is backed by the much larger Internet giant Alibaba and the transformation of Sun Art has been progressing well. According to online media, after Taoxianda launched in Sun Art’s RT-M...Sun Art Retail Group is an investment holding company, engaged in the operation of hypermarkets in the People's Republic of China (PRC), under two banners of Auchan and RT-Mart. As of Dec 31 2014, Co. had a total of 372 hypermarket complexes in China, with a total gross floor area of approximately 10,277,525 sq. m.
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