Access Asia’s Company Profile series of reports are meant to provide independent analysis on Chinese companies either in the news, or on the M&A radar. All company profiles contain contact details, company background and history, key activities in China, a SWOT analysis and key financial figures. We also include any key company events that have made the news, new product releases and branding activity.
Gome
Gome was, until the beginning of 2009, the largest electronics and appliances retailer in China. Indeed, it was the largest retail company in China by revenue. However, the company has lately been dogged by scandal relating to its former chairman, at the same time as facing mounting competition in their core market.
Chief among its competitors is Suning, which has now unseated Gome from its number one spot. Suning has been quicker than Gome to react to the changes in the market, and Gome has been forced to consolidate this year, rather than grow.
However, despite the problems, Gome remains a significant force in its sector, as well as in the wider retail industry, and considerable foreign interest is mounting as the weakened company looks increasingly open to new outside investment.
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