HOdo & Suning seek win-win cooperation
Hodo Group signed a deal to partner with Chinese e-commerce giant, Suning, on smart retail, smart real estate and modern logistics at Suning's headquarters in Nanjing June 23.
The two corporations will also take the lead in helping the poor by contributing 50 million yuan ($7.8 million) each to the Jiangsu Private Enterprises Foundation for Targeted Poverty Alleviation.
HOdo and Suning will actively exploit smart real estate and the cultural tourism industry, relying on the Suning Plaza, Suning Hotel and resort and Cheerful City.
Hodo Group, located in Wuxi, Jiangsu province, is one of the largest clothing companies in China, with sales reaching 50.3 billion yuan ($7.3 billion) in 2015. The firm started by making knit vests in 1957; it has since developed 10 subsidiaries and operates in various fields including clothing, rubber tires, biomedicine and real estate.
As one of 120 pilot enterprises designated by the State Council for deepening reforms, the company has followed the government's call to "go global". It has two subsidiary corporations in New York and Los Angeles, and its products are exported to more than 20 countries and regions.
Suning.com Co., Ltd. formerly Suning Commerce Group Co., Ltd. is one of the largest non-government retailers in China.
Suning has more than 1,600 stores covering over 700 cities of China and Japan and its e-commerce platform, Suning.com ranks among top three Chinese B2C companies.
The operation categories include physical merchandise, such as home appliances, 3C products, books, general merchandise, household commodities, cosmetics and baby care products, content products and service merchandise with the total number of SKU exceeding 3 million. It was listed on the Shenzhen Stock Exchange in 2004.