×
2 819
Fashion Jobs
VF INTERNATIONAL
Credit Controller - Italian Speaking
Permanent · CALVERTON
VF INTERNATIONAL
Credit Controller
Permanent · CALVERTON
BOOHOO GROUP
Site Operations Manager
Permanent · BURNLEY
SHISEIDO
Shiseido Assistant Business Manager - Harrods (37.5 Hours)
Permanent · London
BOOHOO GROUP
Senior Site Operations Manager
Permanent · BURNLEY
HARRODS
Food Supply Coordinator
Permanent · LONDON
HEAD OFFICE
Social Marketing Manager
Permanent · LONDON
HEAD OFFICE
Service Operations Manager
Permanent · BRACKNELL
HEAD OFFICE
Social Marketing Performance Manager
Permanent · LONDON
DR. MARTENS
Logistics Finance Manager
Permanent · LONDON
MULBERRY
Junior Product Manager
Permanent · LONDON
MULBERRY
Warehouse Operative
Permanent · SHEPTON MALLET
HARRODS
Aftercare Consultant
Permanent · LONDON
SELFRIDGES
Lead Tech Business Analyst - Customer And Omnichannel
Permanent · LONDON
SELFRIDGES
Senior Tech Business Analyst - Customer And Omnichannel
Permanent · LONDON
ESTEE LAUDER
Clinique - Consultant - Selfridges, London - 22.5 Hours/Week - Part Time, Permanent
Permanent · Londres
BOOHOO GROUP
Warehouse Operative - Any 5 in 7, 06:00 - 14:00
Permanent · CRICK
BOOHOO GROUP
Warehouse Operative - Boohoo Group (Pretty Little Thing)
Permanent · SHEFFIELD
AESOP
Retail Consultant | Full Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Part Time | Aesop Northcote Road, London
Permanent · London
AESOP
Retail Consultant | Full Time | Aesop Richmond, London
Permanent · Richmond
AESOP
Retail Consultant | Part Time | Aesop Richmond, London
Permanent · Richmond
By
Reuters API
Published
May 30, 2018
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

China's Wanda Group, Tencent team up for 'smart retail'

By
Reuters API
Published
May 30, 2018

Chinese real estate conglomerate Dalian Wanda Group will form a joint venture with technology giant Tencent Holdings and Groupon Inc's former local unit to integrate online and offline businesses, as the companies move towards "smart retail".



Wanda Group's Wanda Commercial Management Group and Tencent will take 51 percent and 42.48 percent, respectively, in the new company, Wanda said in a statement on Wednesday.

Gaopeng, U.S. daily deals company Groupon Inc's former affiliate in China and now backed by Tencent, will hold the remaining stake, Wanda said.

Wanda's existing internet business will be merged into the new company, while Tencent will provide online traffic, Wanda said. Gaopeng's electronics invoicing business will also be integrated into the venture.

The partnership will aim to transform Wanda's offline presence into smart shopping malls, and drive online traffic through Tencent's platforms including WeChat, Wanda said. The deal will also speed implementation of Tencent's smart retail strategy, it said.

Tencent and Alibaba Group Holding Ltd are already on an aggressive drive to boost their reach online and in brick-and-mortar stores, dividing the country's retail market into two camps.

The two tech behemoths, worth a combined $1 trillion (754 billion pounds), have spent more than $10 billion on retail-focused deals since the start of last year.

In January, a group led by Tencent made a 34 billion yuan (4 billion pounds) investment in Wanda's commercial property arm, easing Wanda's financial stress.



 

© Thomson Reuters 2022 All rights reserved.