China’s traditional appliance chains such as Suning are in urgent need of adapting their business models to survive in a multimedia era.
Suning Commerce Group, China’s biggest appliance chain, has acquired a 44% stake in PPLive known as PPTV, a large online video company in the country, becoming its largest shareholder.
The deal, announced on Monday, involves Suning pay $250 million for the stake, while Hony Capital, an investment unit of Lenovo, will hold 1.34%. Combined, the two groups will pay $420 million.
It comes aimed intense online competition among retailers...