Retailer Gome Doubles Down on Brick-And-Mortar Business

Gome Retail Holdings Ltd., one of China’s largest bricks-and-mortar electronics retailers, plans to acquire real estate to develop into shopping malls and a customer experience center, a sign it is refocusing on its offline business and paring back a loss-making e-commerce venture.

Hong Kong-listed Gome Retail will buy Eagle Delight Properties (Overseas) Ltd. outright from Gome Property Holdings Ltd., it said in a Friday exchange filing. The latter is wholly owned by the retailer’s controlling shareholder Huang Guangyu, also known as Wong Kwong Yu.