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ChinaVirtuoso

  1. American electronics retailer Best Buy finally bids farewell to its failed China experiment as it sells some of its assets to a Chinese firm.

    by , 12-09-2014 at 09:37 AM



    Best Buy reportedly reached a final agreement with Jiayuan Group, a Chinese mainland real estate company, to sell its Chinese subsidiary Five Star Appliances to the latter. Best Buy said the sale of Five Star Appliances will not affect the operation of its other brands in China.

    In 2006, Best Buy entered the Chinese retail market by acquiring a majority stake in Jiangsu Five Star ...