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Vipshop Acquires Off-line Outlets Business Shanshan For CNY290 Million

July 11, 2019 5:16 pm

Beijing (PingWest)- Chinese online discounter Vipshop, which is backed by Tencent and JD.com, has acquired outlet shopping mall operator Shan Shan Commercial Group for CNY290 million(USD42 million) , according to a company filing to the United State Securities and Exchange Commission.

Shan Shan Commercial Group, which is also known as Shan Shan Outlets, currently operates five outlet malls located in Taiyuan, Harbin, Zhengzhou, Nanchang, and Ningbo. It has another five outlets under construction, said Vipshop in the filing.