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Suning Receives Prestigious Golden Panda Award from China-Italy Chamber of Commerce for Strengthening Bilateral Business TiesNANJING, China, June 10, 2021 /PRNewswire/ -- Suning Group ("Suning" or "the Company"), a leading smart retail conglomerate in China, has been granted the "Country Promotion Golden Panda Award" by the China-Italy Chamber of Commerce for its outstanding contribution in strengthening businesses ties between enterprises from the two nations. On June 7, the 11th Panda d'Oro Award took place in Shanghai, where Suning Group took home the award that recognizes the Company's efforts in strengthening sustainable business ties between Chinese and Italian enterprises with Suning's one-stop retailing and branding services.
The Golden Panda award is aimed at recognizing outstanding Italian and Chinese businesses and organizations that have made exceptional contributions in developing relations between enterprises in Italy and China. Suning Group has been an essential strategic partner of the Italian Trade Agency ("ITA"). In 2018, Suning International helped organize a Milan furniture expo in Shanghai, as part of ITA's branding partnership. In 2019, Suning officially inked a collaboration agreement with ITA and started to provide Italian brands with global retail and supply chain services. To help Italian companies further draw in more Chinese consumers, Suning had particularly rolled out the "Authentic Italian" shopping experience. Suning International and ITA once again signed an agreement at the 2019 China International Import Expo, to introduce more quality Italian brands to Chinese consumers. In a bid to fuel its international expansion, Suning International has introduces SUP's, the world's preferred platform for branding, marketing and consulting services for overses brands seeking to enter the Chinese market. SUP's has teams of buyers in nine countries to purchase trendy fashion accessories and lifestyle products, in a move to bring consumers a sense of a new and youthful lifestyle. Suning Internation introduced its "one-stop solution for overseas brands to enter China" program in May 2021. Suning's digital solutions services, which include integrated cross-border trading and marketing services, help global brands enter, grow and expand in their target Chinese markets, as well as serve as an engine to boost cross-border dual circulation. Leveraging its channels and resources of Suning International, the program provides cross-border strategy consulting services, customized retail solutions and global trade, with the aim to develop Suning International into the biggest imported supply chain platform that empowers global brands to take root in China. For example, Italian coffee gear brand Bialetti has gained popularity worldwide, but Chinese consumers were relatively unfamiliar with the brand. With Suning's one-stop retailing and branding services, Bialetti booked a 350% year-on-year surge in sales volume for its products on Suning's platform in the first quarter of this year, through online live-streaming sales, offline flash store events and other marketing promotions. Over the past three decades, Suning Group has been advancing its services with its goal of empowering industry development and promoting social entrepreneurship. As part of the Company's transformation, it has upgraded its business position from "retailer" to "retail services provider," in a move to keep moving forward with its exploration in green development and sustainability. The latest recognition from the chamber of commerce marks Suning's ongoing efforts in international expansion. Just at the end of last year, Steven Zhang, president of Suning International, the international business arm of retail conglomerate Suning.com, received the "Outstanding Pioneer" award from the Italian Consulate General in Shanghai, to recognize Zhang's work to facilitate Italian enterprises to make a splash in China. Zhang, who also serves as chairman of Italian football club Inter Milan, led the Company to build up its international presence and help Italian brands to enter the Chinese market. As Suning transitions from "retailer" to "retail services provider," it always bears in mind its broader social responsibility and how it can give back to society. For example, Sup primarily sells products that are in line with broader social values such as sustainability and environmental protection. Last year, Sup was invited to attend the Green Carpet Fashion Awards, which is often dubbed the Oscars of the fashion world, for the Company's contribution to going green. About Suning Group Founded in 1990, Suning Group has two listed subsidiaries domestically and internationally. Suning Group is ranked third among Chinese private sector companies and serves nearly 700 million users globally. Committed to its mission of leading industrial advancements that create a high quality life for all, Suning strives to be a socially-conscious corporation and leading retail service provider. Suning focuses its efforts on retail business, innovative Smart Retail, empowering industrial development and serving social entrepreneurship. The subsidiary, Suning.com, has been listed on the Fortune Global 500 for years.
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