Five Star Appliance and Haier announced a strategic deal that aims to build 50 brand image stores in 2017.
At the same time, the two parties launched a "Haier washing machine and Five Star Appliance strategic cooperation best terminal experience store" at Five Star Appliance's Zhongshan East Road store in Ningbo.
Under the strategic cooperation, Five Star Appliance and Haier will continue to collaborate in product resource and sales channel sectors to enhance related sales volume and the Casarte promotion program. Casarte is a high-end home appliances brand of Haier.
Haier's performance report for the first quarter of 2017 showed that the company's operating revenue was CNY37.7 billion. So far, Five Star Appliance has deployed offline physical stores in many provinces, including Zhejiang, Jiangsu, Shandong, Anhui, Sichuan, Yunnan, and Henan.
Financial details related to the Five Star Appliance and Haier deal were not released.