On July 12, 2017, China Resources Vanguard (CRV) and Dunnhumby, a customer science subsidiary of Tesco’s, held a signing ceremony for a joint venture agreement in Shanghai. The new joint venture, China Wisdom Dunnhumby aims to provide big data services to the local market in China.
The 50-50 joint venture partnership will focus on the big data market in China under the Dunnhumby brand. CR Vanguard holds the largest amount of membership data of all physical retailers in China, while Dunnhumby offers world-leading big data solutions with its 27-year expertise and global experience in serving retail industry consumers.
The joint venture will be the first big data company in China founded by an offline retailer. The new firm will offer Chinese enterprises world-leading big data application services, thereby driving development and change in the big data industry in China.