It has been reported that Best Buy (NYSE:BBY) is set to open a new online store in China.
Best Buy To Open New Online Store
The US electronic retailer Best Buy (NYSE:BBY) has reportedly opened a new online store in China under the RocketFish brand.
The company started trial operations on July 7 and it sold more than 1,000 items on Aug. 28.
It closed its nine stores and Shanghai headquarters in 2011, but reopened Best Buy Mobile stores in the middle of the year. The site is operated by www.new7.com, an electronics products retailing company.
New7.com’s brand director Tian Yuan said, “Many people have doubts about whether Best Buy (NYSE:BBY) will do well in China and think the company still does not understand the Chinese market. Actually, Best Buy (NYSE:BBY) has been preparing for the return”.
Best Buy (NYSE:BBY) stocks are currently standing at 17.74.