Chinese online-to-offline smart retail company Suning is expecting to invest about 1.3 billion euros ($1.5 billion) on major European acquisitions within the next three years.

The company is preparing to expand its footholds across the continent.

With the investments, Suning also intends to open further 300 stores in China, 50 of which will be medium to large single-brand stores.

Suning Group generates about $30 million in revenue annually.