Retailing, Franchising, and Consumerism Business Intelligence in China

Gome Eyes Digital, Communication Company Acquisitions

Gome, the biggest home appliance retailer in China, is reportedly soon planning to make some big purchases.

Chen Xiao, president of Gome, has told local media that Gome has contacted some companies in various fields, but he won't disclose more details at this stage. According to recent press statements, Gome aims to have sale revenue of RMB19.8 billion for mobile phones and take 10% of the market share in the mobile market in China this year. Gome also hopes to open 100 mobile phone stores within the year.

He Qingyang, a spokesperson from Gome, says that Gome has opened up to 20 mobile phone stores in such first-tier cities as Shanghai and Guangzhou, but it will also seek some opportunities to acquire some electronics sellers to further integrate its mobile phone retail channels.

Gome plans to purchase 200 stores from its parent company this year, and it is currently waiting for the approval from the Ministry of Commerce of the People's Republic of China for the relevant acquisition.

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