JD.com wholly owns the 5 Star Electrical Appliances

On August 12, JD.com held a press conference in Nanjing, announcing that 5 Star Electrical Appliances, or 5Star.cn, had become a wholly-owned subsidiary under JD.com with a new name—JD 5 Star Electrical Appliances Co., Ltd.

On August 12, JD.com held a press conference in Nanjing, announcing that 5 Star Electrical Appliances, or 5Star.cn, had become a wholly-owned subsidiary under JD.com with a new name—JD 5 Star Electrical Appliances Co., Ltd.

The new JD 5 Star Electrical Appliances will continue to operate independently. The former President, Pan Yiqing, will continue to serve as the President of the new JD 5 Star Electrical Appliances, whose CFO is Ma Ji, the Vice President of JD.com. The original direct-sales stores of 5 Star Electrical Appliances will gradually change the brand to JD 5 Star Electrical Appliances.

The president Pan Yiqing said that all JD 5 Star Electrical Appliances stores have preliminarily achieved product and business integration of online and offline modes. The core employees have the ability to operate both the physical and virtual stores. Sales online have accounted for 40% of total.

In the second half of this year, JD.com plans to open eight more JD.com flagship electrical appliances stores in the cities of Suzhou, Nanjing, Jiaozuo, Bengbu, and Deyang. Meanwhile, JD 5 Star Electrical Appliances has reached an agency cooperation with BBK in June this year to take over the home appliance retail business of BBK in Hunan and Guangxi, further expanding its offline business.

The 5 Star Electrical Appliances Co., Ltd., founded in 1998, is an electrical appliance retailer in Jiangsu Province, with more than 1,000 stores of various types. In seven provinces in China including Jiangsu and Zhejiang, 5 Star opens over 300 self-operated offline chain stores.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/15/jd-com-wholly-owns-the-5-star-electrical-appliances/.

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