Chinese discount eCommerce specialist Vipshop is to buy Shan Shan Outlets, a five-store chain based in eastern China. The deal is priced at CNY2.9 billion and will extend Vipshop’s presence in the physical retail space as Shan Shan seeks to double its store count by end-2020. Vipshop has been looking to grow its offline business and recently opened 21 stores under the Victory Warehouse Line banner for its Weipincang wholesale arm.

Source: Caixin