Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Trending in China: Could “76 Days”, a Doc About Covid-19 in Wuhan, Win an Oscar?
Huawei to Establish Biggest-Ever Overseas Flagship Store in Riyadh
China’s First High-School Education Group Files for $100m US IPO
Danish Pension PBU Backs First Close of New SE Asia-Focused Women’s Fund
Tencent Music to Buy Audiobook Platform Lazy Audio for $416 million
Shanghai-Based Robot Developer Closes $46 Million Funding Round
Trending in China: Top Broadcast Exec Questions if Esports Are Really a Sport – Cue Heated Debate
Chinese Video Streamer iQiyi Targets U.S. Market With Animation on Nickelodeon
Chinese Majority Owned Lotus Announce EV Sports Car Venture With Renault’s Alpine
Chinese New Film Materials Maker HIUV on Track to Raise $227m in STAR Market IPO
Jordan Slam Dunks on Copycat Chinese Sportswear Brand Forcing Them to Change Their Name
Trending in China: Will ‘Chinese Baijiu’ Name Change Propel It To Global Dominance?
EHang Pioneers Self-Flying Drones for Tourists in Greater Bay Area City
TCL Squashes Rumours it is Withdrawing From North America Amid Empty Shelves
Chinese PE Fund Manager CICC Capital Secures $649m Second Close of Biomedicine Fund
WeRide Receives $310 Million as Beijing Opens Highways to Autonomous Car Tests
China’s Orchid Asia Leads Funding in Delivery Platform Fantuan, Edtech Startup Ivydad
U.S.-Listed Video Streamer Bilibili Files for Secondary Listing in Hong Kong, CNBC Reports
Dining Delivery Pay Dispute Leads Man to Set Himself on Fire
PayPal Becomes First Foreign Company to Offer Digital Payments in China
Online Discounter Vipshop Acquires Offline Outlet Stores

By Shen Xinyue and Mo Yelin / Jul 11, 2019 12:49 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Chinese discount online retailer Vipshop has announced that it will pay 2.9 billion yuan ($422 million) to acquire brick-and-mortar chain Shan Shan Outlets, furthering its expansion into physical retailing.

Vipshop said the deal would help it “gain presence” in China's offline retailer business and strengthen its position in the domestic discount retail segment.

But investors were skeptical with stock in New York-listed Vipshop Holdings closing 7.51% lower on Wednesday.

Founded in 2008, the company counts internet giant Tencent and e-commerce company JD.com as stakeholders. Shan Shan Outlets is headquartered in eastern China’s Zhejiang province and operates five sites in China, with plans to open another five by the end of next year.

Related: Tencent, JD.com Take Stake in Discount Online Retailer

Share this article
Open WeChat and scan the QR code