Best Buy China @ The China Perspective

April 03,2008

By ANDREW SIEGFRIED

Two interesting research reports were eleased early this week; the first, by global communications service provider WPP Group, identifies a core group of China’s prosumers – smart, active and tech-savvy consumers who gain their information from digital media or online and influence mass consumers in terms of lifestyle and brand choices. The secon...

Best Buy closes Beijing sourcing office

March 06,2008

By STAFF EDITOR

Industrial space boosted in Shanghai

November 27,2007

By STAFF EDITOR

Suning eyes Shanghai expansion

August 09,2007

By STAFF EDITOR

Best Buy subsidiary to invest in logistics hubs

June 28,2007

By STAFF EDITOR

Jiangsu Five Star Appliance Co, which was bought by Best Buy for US$180 million (RMB1.4 billion last year), said it would spend US$39.4 million (RMB300 million) developing three new logistics bases to serve stores belonging to it and its parent in eastern China, the Nanjing-based Yangzi Waobao reported. The three logistics hubs will cover a combined 80,000 square meters in Hangzhou, the provincial capital of Zhejiang, Nanjing, the provincial capital of Jiangsu, and Suzhou, which is also in Jiangsu province. Construction is scheduled to begin immediately and the hubs will be operational next year. The Chinese home appliance retailer slightly altered its outlet network and saw a two-digit growth in sales last year after its acquisition by Best Buy. The deal gave the US retailer access to Five Star’s 130 plus outlets across China, mainly in the east coast. Best Buy opened its first Chinese own-brand store in Shanghai last December and plans to open seven more in the city over the next 18 months before turning its attention to other Chinese cities.

Best Buy to fast track expansion plans

June 22,2007

By STAFF EDITOR

US electronics retailer Best Buy is set to shelve its plan to expand slowly in China and open eight to ten outlets by the end of 2008, the Shanghai Business Journal reported. In February, Best Buy said it would open just two to three outlets in China in the next 12 to 18 months. “From our success in Shanghai, you can see we have a lot of potential to accelerate the process,” said Robert Willett, CEO of Best Buy International. Natural gas to serve world’s tallest building The Shanghai World Financial Center – which is under construction in Pudong’s Lujiazui financial zone – will have natural gas available as high as the 93rd floor, higher than in any other high-rise in the world, Economy Daily reported. The 492-meter, 101 story skyscraper will surpass the nearby 420.5-meter Jinmao Tower as the world’s tallest building. “We will supply gas to this height to assure the taste of Chinese cuisine, which could be spoiled if cooked by electricity,” said one of the building’s managers. “The gas supply can probably reach 16 cubic meters even on the 93rd level – enough to cook for 50 customers.”

Best Buy increases stake in Five Star

April 16,2007

By STAFF EDITOR

Upping its ownership by 20%, Best Buy now owns 70% of electronics retailer Jiangsu Five Star, part of a strategy for expansion into second- and third-tier cities.

China lures American retailers

October 04,2006

By AMY CHEUNG

China’s retail market is proving to be one of the world’s most seductive investment haven luring foreign investors to take a slice of the cake. Ernst & Young reports a sustained expansion of the China’s retail sector growing by 12 to 13 percent this year and expanding further by 14 percent in 2007. How do American companies pan out their expansion strategies in China?

Best Buy plans rapid expansion in China

August 29,2006

By AMY CHEUNG

Best Buy said that it is studying the Chinese market and planning the opening of its first store by the end of this year, as part of the efforts of rapid expansion, Forbes reported.

Dazhong's move show limits of regional enterprises

August 23,2006

By AMY CHEUNG

Dazhong’s divorce of China Paradise is a negotiation tactic, showing regional enterprises are unable to survive in the new electrical appliance market, Economic Information Daily reported.

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	Notes from the net April 03,2008 By ANDREW SIEGFRIED Two interesting research reports were eleased early this week; the first, by global communications service provider WPP Group, identifies a core group of China’s prosumers – smart, active and tech-savvy consumers who gain their information from digital media or online and influence mass consumers in terms of lifestyle and brand choices. The secon... Best Buy closes Beijing sourcing office March 06,2008 By STAFF EDITOR Industrial space boosted in Shanghai November 27,2007 By STAFF EDITOR Suning eyes Shanghai expansion August 09,2007 By STAFF EDITOR Best Buy subsidiary to invest in logistics hubs June 28,2007 By STAFF EDITOR Jiangsu Five Star Appliance Co, which was bought by Best Buy for US$180 million (RMB1.4 billion last year), said it would spend US$39.4 million (RMB300 million) developing three new logistics bases to serve stores belonging to it and its parent in eastern China, the Nanjing-based Yangzi Waobao reported. The three logistics hubs will cover a combined 80,000 square meters in Hangzhou, the provincial capital of Zhejiang, Nanjing, the provincial capital of Jiangsu, and Suzhou, which is also in Jiangsu province. Construction is scheduled to begin immediately and the hubs will be operational next year. The Chinese home appliance retailer slightly altered its outlet network and saw a two-digit growth in sales last year after its acquisition by Best Buy. The deal gave the US retailer access to Five Star’s 130 plus outlets across China, mainly in the east coast. Best Buy opened its first Chinese own-brand store in Shanghai last December and plans to open seven more in the city over the next 18 months before turning its attention to other Chinese cities. Best Buy to fast track expansion plans June 22,2007 By STAFF EDITOR US electronics retailer Best Buy is set to shelve its plan to expand slowly in China and open eight to ten outlets by the end of 2008, the Shanghai Business Journal reported. In February, Best Buy said it would open just two to three outlets in China in the next 12 to 18 months. “From our success in Shanghai, you can see we have a lot of potential to accelerate the process,” said Robert Willett, CEO of Best Buy International. Natural gas to serve world’s tallest building The Shanghai World Financial Center – which is under construction in Pudong’s Lujiazui financial zone – will have natural gas available as high as the 93rd floor, higher than in any other high-rise in the world, Economy Daily reported. The 492-meter, 101 story skyscraper will surpass the nearby 420.5-meter Jinmao Tower as the world’s tallest building. “We will supply gas to this height to assure the taste of Chinese cuisine, which could be spoiled if cooked by electricity,” said one of the building’s managers. “The gas supply can probably reach 16 cubic meters even on the 93rd level – enough to cook for 50 customers.” Best Buy increases stake in Five Star April 16,2007 By STAFF EDITOR Upping its ownership by 20%, Best Buy now owns 70% of electronics retailer Jiangsu Five Star, part of a strategy for expansion into second- and third-tier cities. China lures American retailers October 04,2006 By AMY CHEUNG China’s retail market is proving to be one of the world’s most seductive investment haven luring foreign investors to take a slice of the cake. Ernst & Young reports a sustained expansion of the China’s retail sector growing by 12 to 13 percent this year and expanding further by 14 percent in 2007. How do American companies pan out their expansion strategies in China? Best Buy plans rapid expansion in China August 29,2006 By AMY CHEUNG Best Buy said that it is studying the Chinese market and planning the opening of its first store by the end of this year, as part of the efforts of rapid expansion, Forbes reported. Dazhong's move show limits of regional enterprises August 23,2006 By AMY CHEUNG Dazhong’s divorce of China Paradise is a negotiation tactic, showing regional enterprises are unable to survive in the new electrical appliance market, Economic Information Daily reported. 1 2 3	Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. MOST POPULAR China’s textiles sector in need of govt support Beverage maker involved in JV ethanol project Liaoning garment maker takes 8.8% of life insurer Air China IH revenues up 5.5% to $3.55b China labor market Asia’s most active in Q3: Hudson Chongqing to build software outsourcing center Chinese economy to hit cyclical trough in 2010 TCL’s TV and mobile handset sales surge Shanghai property market down in early July Diesel engine producer gets US$176m bank loan package Go to Complete List >

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