Suning Partners with CEIBS to Boost Corporate Transformation in the Digital Economy

Stocks and Financial Services Press Releases Thursday July 5, 2018 16:57
NANJING, China--5 Jul--PRNewswire/InfoQuest

Suning, the commercial giant ranked second in China's top non-state-owned enterprises and owners of Suning.com, a Fortune Global 500 retail company, today announced its partnership with China Europe International Business School (CEIBS). The two parties signed a wide-range agreement to conduct joint research on innovative business models, strategic management, and digitalized operation to boost corporate transformation for future development.

Suning and CEIBS will jointly work on the Suning Research Group under the "China-Europe Digital Economy and Smart Enterprise Research Center", focusing on in-depth case studies of smart enterprises and supporting corporate transformation toward digitalization.

Fang Yue, professor of CEIBS, believes that Suning's Smart Retail has two key words: "smart" and "technology". He said, "Suning's past ten years of experience in digital transformation will not only benefit Suning's future growth but also provide valuable experience for companies who are looking at transformation and innovation solutions for further development opportunities."

Strategic cooperation with the top education institutions embodies the success of Suning's Smart Retail strategy and its value as a good case study in the industry. In 2009, Suning took the lead in the practice of Internet-based transformation among traditional domestic retail enterprises, embracing Internet technology through marketing transformation, channels innovation, online-to-offline (O2O) integration, and platform openness. The success enables Suning to stand ready to capitalize on the opportunities in the new era of retail, and take advantage of emerging business and profit models to super-charge its growth and development in the future.

In the meantime, Suning and CEIBS will cooperate on employee training and talent recruitment. Wang Gao, professor of Marketing at CEIBS, said, "The main product of CEIBS is education. Therefore, we are willing to help build the talent base for Suning and do our best for the long-term development of Suning employees training and recruitment."

"CEIBS is a leading and world-class business school in Asia. Since its establishment it has been committed to the research of cutting-edge business in China, helping Chinese enterprises to innovate and transform to better embrace the opportunities brought by upgraded market needs. As the leading O2O Smart Retail company, Suning has witnessed and participated in the transformation of China's retail industry. "The two parties will cooperate to jointly explore industrial development and contribute our practical experience and insights to industry peers, " said Meng Xiangsheng, Senior Vice President, Chief Human Resource Officer of Suning.com.

Suning established the Suning Smart Retail Research Institute in 2018, focusing on research of the re-engineering of technology in the retail industry.
About Suning

Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan respectively. In 2017, Suning Holding ranked second among the top 500 private-owned enterprises in China with annual sales of 65.7 billion USD (412.95 billion RMB). With the mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business through eight vertical industries: Suning.com, Logistics, Financial Services, Technology, Real Estate, Media &Entertainment, Sports, and Investment, among which Suning.com was listed on the 2017 list of Fortune Global 500.

For more information, see www.suningholdings.com
Photo - https://photos.prnasia.com/prnh/20180705/2180078-1
Caption - Meng Xiangsheng (left), Senior Vice President, Chief Human Resource Officer of Suning.com and Ding Yuan (right), Vice President and Dean of CEIBS, attended the event

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