Suning Appliance, one of the largest privately-owned electrical appliance retailers in China, has started a new logistics center in Beijing which will cost $44 million and have a potential floor area of 81,461.1 square meters.
The center, located in Tongzhou District, is expected to provide services to more than 100 planned stores in Beijing and its suburbs.
In 2005, Suning Appliance spent $14.6 million to build its first logistics center in Beijing, which has a warehouse covering around 30,000 sq m.
According to a statement released by Suning Appliance, it plans to open 78 chain stores this month – 41 new stores and 37 renovated stores.
Alibaba said Suning in the third quarter of this year had $103 million in net profit.