Chinese Home Appliance Giant Gome Will Invest USD15.9 Million in Service Supplier Shifendaojia
Zhang Xia
/SOURCE : Yicai
Chinese Home Appliance Giant Gome Will Invest USD15.9 Million in Service Supplier Shifendaojia

(Yicai Global) Nov. 28 -- Chinese home appliance firm Gome Retail Holdings Ltd. [HK:0493] said it will invest USD15.9 million (CNY105 million) in intelligent home appliance service supplier Shifendaojia Science and Technology Service Co. and the two parties will expand cooperative business ties.

Founded in May last year, Shifendaojia maintains, cleans and installs various home appliances and runs more than 10,000 outlets covering 98 percent of cities and towns in China.

Gome is implementing new retailing strategies, aiming to shift itself to a service supplier from a home appliance retailer, Gome Chief Financial Officer Fang Wei said.

Shifendaojia is an enterprise specializing in after-market home appliance services, and their cooperation will facilitate Gome's strategic transformation, Fang said.

Home appliance manufacturer TCL Corp. [SHE:000100] also formed a cooperation agreement with Shifendaojia, and they will collaborate in after-market services.

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Keywords: MSCI , TCL , Shifendaojia , New Retail