Whirlpool Corp. formed a strategic alliance in China with Suning Appliance Co., Ltd., for the sale of home appliances in China.
The agreement gives Whirlpool preferential access to Suning's national distribution network of 1,700 retail outlets throughout China and preferential access to fast growing market segments in China's smaller, but faster growing cities. Suning will have exclusive access to the Whirlpool brand within its National Electronic Super Stores in China and will receive preferential access to Whirlpool brand product innovations. Both companies will share supply chain resources and efficiencies to optimize costs.
"This strategic alliance signifies our strong commitment to the China market, and our belief that people everywhere should have access to high-quality, consumer-relevant innovative appliances," said Michael Todman, President, Whirlpool International. "Suning's distribution network, as well as its excellent reputation as a leading electrical appliance retailer in China, makes it the ideal choice of partnership, which is a key enabler to our China growth strategy to become the leading international appliance brand and grow our domestic sales to $1 billion over the next several years."
"In recent years, strategic partnerships with manufacturers have played a critical role in enhancing our marketing efforts," said Zhang Jindong, chairman of Suning Appliance Co. "We are very pleased to form this strategic alliance with Whirlpool Corporation, since it is a natural expansion of our long and positive relationship and it will further expand Suning's in-store capability, and ability to provide great customer shopping experiences across its sales floors."
Suning Appliance Co. Ltd is China's largest 3C electrical appliance (consumer appliance, computer and communication products) retailer with 1700 stores in almost 300 cities. The company has 180,000 employees and annual sales volume of more than RMB 100 billion.
to Daily News