Suning to acquire baby products website

Chinese retailer Suning Appliance (002024.SH) will acquire online child supplies retailer Redbaby.com.cn for US$66 million, Reuters reported. Suning Vice Chairman Sun Weimin wrote on his microblog that the company is acquiring Redbaby to expand its product line. The appliance retailer is investing heavily in its online business in order to compete more effectively with China’s other top appliance retailer GOME Electrical Appliances (0493.HKG) and other e-commerce companies. Suning has roughly 1,700 branches and said earlier this month that it will launch Suning Expo Super Stores that sell goods other than appliances and electronics to counter lethargic sales. Redbaby, started in 2004, is one of China’s biggest online retailers, with a focus on mother and child products. Its website states that the company has more than 3 million customers across nine regions in China.