Wang Zhengwei - Imaginechina/AP
Yonghui may be a brick-and-mortar retailer, but it innovates like a tech company. This year it launched an offshoot called Yonghui Mini—a network of small, fresh-food groceries that are supplied by a larger central supermarket. It’s likely that style of thinking attracted tech superstars JD.com and Tencent to invest. Those Internet-savvy backers will help Yonghui advance into the world of “new retail.”
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|Industry||Food and [hotlink]Staples[/hotlink] Retailing|
|HQ Location||Fuzhou, China|
|Revenues ($M) (Past 12 Months)||$11,325|
|Profits ($M) (Past 12 Months)||$281|
|Market Value as of Oct. 9, 2019 ($M)||$11,969|