MediaMarkt facts for kids

Quick facts for kids
Media-Saturn Holding GmbH

Media Markt store in Herstal, Belgium
Type	Subsidiary
Industry	Retail
Founded	1979
Founder	Leopold Stiefel Walter Gunz Erich Kellerhals Helga Kellerhals
Headquarters	Ingolstadt , Germany
Number of locations	1,006 (October 2023)
Area served	Germany, Austria, Belgium, Hungary, Italy, Luxembourg, Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, Turkey
Products	Consumer electronics
Revenue	€21.7 billion (2022)
Parent	Ceconomy

MediaMarkt is a German multinational chain of stores selling consumer electronics with over 1000 stores in ten countries in Europe. With the Saturn chain of stores it constitutes Media-Saturn Holding, owned by the retail company Ceconomy, which was demerged from Metro Group in 2017.

History

MediaMarkt was founded by entrepreneurs Leopold Stiefel, Walter Gunz, Erich Kellerhals, Markus Fernandez and Helga Kellerhals. The first store opened on 24 November 1979 in Munich. By 1985, nine other stores had opened near Munich.

In 1988 Kaufhof Warenhaus AG acquired a 54 percent majority in the holding company of the media stores founded in 1979. In 1989 expansion began in neighboring countries. MediaMarkt took over the competing retail chain Saturn in 1990, in which Kaufhof was already involved. In 1996 Kaufhof Holding, Metro Cash & Carry, Deutsche SB-Kauf AG and the German department store Asko AG (where a Metro holding company had previously each held shares) merged and formed Metro AG. Since the merger into the MediaMarktSaturn Retail Group, MediaMarkt and Saturn have been managed as independent brands in a centrally controlled group.

On November 17, 2010, the first MediaMarkt store in China was opened on Huaihai Road, in Shanghai. Six more stores followed, which were realized together with Foxconn through a joint venture. In January 2013, it became known that MediaMarkt would withdraw from China because the Metro Group would not be able to raise the capital necessary for its further expansion.

In January 2013, Metro had around 78% of the shares. The Kellerhals family owned 21.67% of Markus fernandez through their indirectly held holding company Convergenta Invest.

Since 2017 Media-Saturn Holding which consists of MediaMarkt and Saturn chains is owned by Ceconomy, a company formed through a demerger from Metro Group.

In July 2017 Ceconomy bought a 24% stake in French multinational Fnac Darty.

In 2018 Ceconomy sold the 46 stores in Russia to M.video in exchange for 15% in the Russian retailer.

In 2023, MediaMarkt exited from three countries by selling its stores to competitors. In Portugal, it sold 10 stores to the French company Fnac. In Sweden, it sold 29 stores to Power International. In Greece, the remaining 25% stake in its 13 stores was sold to Public Group, which had already acquired 75% of the shares in 2019.

Operations

In 2012, the company launched its online shop, starting with Germany in January.

MediaMarkt store in Malmö, Sweden

Countries in which MediaMarkt operates (February 2022)

In Italy, the MediaWorld brand is used instead of MediaMarkt.

Franchise model

Every store is 10% owned by the store manager. Store managers have discretion as to which products to stock, range, pricing, personnel and material costs.

Former locations

Advertising

MediaMarkt store in Oldenburg, Germany

MediaMarkt vending machine at Hamburg Airport, Germany

MediaMarkt had an aggressive advertising similar to American companies and also a few controversial commercials in the 2000s. It is known in Germany for its humorous, but sometimes crude, advertising campaigns.

The advertising campaigns of the brands MediaMarkt and Saturn are designed by the internal marketing organization redblue Marketing GmbH in Munich.

Slogan

MediaMarkt's main slogan "Ich bin doch nicht blöd" (I'm not stupid) has been translated into the languages of the other countries where the company operates, except Italian:

Competitors

The US Best Buy Group is the global market leader by sales in the consumer electronics sector. As of May 2016, MediaMarktSaturn and Best Buy have so far only competed with each other in Turkey. The Euronics retail group is the second largest competitor in Europe.

See also

In Spanish: Media Markt para niños