Date
18 November 2017

Suning to take over group-buy website Manzuo, paper says

Appliance retailer Suning Commerce Group Co. Ltd. (002024.CN) will acquire major group-buying website Manzuo.com for nearly US$100 million, the Shanghai Securities Journal reported Tuesday, citing a company source. Beijing-based Manzuo will be merged into Suning’s local service division as part of efforts to boost the retailer’s online-to-offline businesses, it said. The two sides will share resources in various areas including procurement, operations and marketing, the source was quoted as saying.

– Contact HKEJ at [email protected]

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