INGOLSTADT, Germany and SHANGHAI, Nov. 18, 2010 /PRNewswire-Asia/ --
The big day has finally arrived. Yesterday, Media-Saturn - Europe's leading electrical goods retail group - and its Chinese partner Foxconn officially opened the first Media Markt store in China. At 7 p.m. on the dot local time, thousands of customers surged into the new electrical goods retail store on Huai Hai Road, one of Shanghai's most famous shopping streets. With more than 9,500 m2 of selling space, the flagship store is the second-largest Media Markt outlet in the world. Split over five stories, it stocks some 45,000 up-to-date products. Media Markt China plans to operate more than ten stores in Shanghai by 2012.
The sheer number of customers confirms how well the consumer climate is developing in China: "Chinese consumers' purchasing power is soaring, and we can profit from this growth with our market rollout," said Roland Weise, CEO of Media-Saturn-Holding GmbH. "The electrical goods retail sector alone is currently growing by some 8 percent a year and sales are expected to climb to between 180 and 200 billion euros in the next ten years."
Media Markt is opening its first flagship store in Shanghai on the famous shopping street Huai Hai Road. The brand's tried and tested recipe for success is being adjusted to Chinese consumers' requirements, with a wide
range of demonstrable products at permanently low prices, innovative store design, and expert advice and service. Media Markt primarily hopes to gain a competitive edge via its customer focus: 275 employees are on hand to ensure that consumers find the product that fits their needs perfectly. The product portfolio comprises an extensive range of consumer electronics, new media, cell phones, entertainment, office technology, photography/video accessories, car hi-fis, domestic appliances, and household goods, which is geared towards Chinese consumers' preferences.
The design of the store features numerous highlights. For example, there are studios for 3-D technology, TVs, and hi-fis, plus a 300 m2 e-learning and gaming department. As is typical for China, the store has a spacious relaxing zone, where customers can test products such as massage chairs. Refreshments round out the customer experience. As in Europe, Media Markt offers a comprehensive range of services in China - from delivery and repairs to expert advice on products and computer installation.
Media Markt China was established as a joint venture, with METRO GROUP and the two founder families behind Media Markt, Kellerhals and Stiefel, holding 75% of the shares and Foxconn Technology Group owning a 25% stake. The Dutch executive Ton Wortel is CEO of Media Markt China. He is assisted by a Chinese Chief Strategy Officer, Dr. Alan S. Yeung. Ton Wortel's most recent position was COO of Media-Saturn's foreign subsidiary in the Netherlands, while Dr. Yeung was previously CFO of Foxconn's Channel Business Group. The Chinese Store Director Jack Sun will run the first retail outlet in Shanghai.
About Media-Saturn
With a net revenue of 19.7 billion euros and a headcount of more than 60.000 in 2009, Media Markt and Saturn are Germany and Europe's Number One consumer electronics retailers. The success enjoyed by the two retail brands, which are housed under the roof of Media-Saturn-Holding GmbH, is based on a unique selection of low-priced brand-name products, competent staff, excellent service, a distinctive advertising presence and a decentralized organizational structure. Each general manager is a shareholder in his own store and is thus responsible for the products offered, as well as for pricing, personnel and marketing. The Media Markt and Saturn brands are managed independently of one another and are competing retail brands. The Media-Saturn Group, in which METRO AG has a majority shareholding, currently has 864 stores in 17 countries. You will find more information about the Media-Saturn Group at http://www.media-saturn.com.
About Media Markt
Media Markt is Europe's Number One electrical goods retailer. The success enjoyed by the company, which was founded in 1979 and is housed under the roof of Media-Saturn-Holding GmbH, is based on a unique selection of low-priced brand-name products, competent staff, excellent service, a distinctive advertising presence and a decentralized organizational structure. Each general manager is a shareholder in his own store and is thus responsible for the products offered, as well as for pricing, personnel and marketing. At present, Media Markt has and 604 stores in 15 countries.
Press contact:
Media-Saturn-Holding GmbH
Corporate Communications
Sven Jacobsen
Wankelstrasse 5
D-85046 Ingolstadt
Phone: +49-841-634-1111
Fax: +49 (841) 634-2478
E-mail: presse@media-saturn.com
