Media Markt ready to enter Russia

Metro Group electronics subsidiary Media Markt is set to hasten its Russian expansion, Business mewspaper reports. Media Markt has already opened its office in Moscow, chosen the place for its first Moscow store and started negotiations with the local electronics chains.

According to Business sources, Moscow office of the chain is working out the local development strategy. It is also in search of land lots for the future Media Markt stores. By the way, one of such locations has been already chosen on the crossroads of Kutuzovsky Prospect, Third Transport Ring and Kulnev St. Besides, the chain has reached an agreement with one of the IKEA partners and all of its future outlets will be located near IKEA centres. The area of the first Media Markt hypermarket in Moscow is to be 25,000 sq. metres.

The possibility of Media Markt entrance to Russia was first mentioned by Metro Group Chairman of the Board Hans-Joachim Korber last summer. Yet the way the chain is going to develop here is still unknown. One of the Business sources is sure that the German chain is still considering purchase of the local operator. After Eldorado’s deal with Dixons, the most possible candidates for takover are M-Video and Mir. The fourth federal electronics chain Technosila differs in format too much. Mir PR Director Elizaveta Totunova denied the fact of negotiation underway, while M-Video sales and marketing Director Michael Kuchment declined to elaborate.

Metro Group electronics subsidiary Media Markt is set to hasten its Russian expansion, Business mewspaper reports. Media Markt has already opened its office in Moscow, chosen the place for its first Moscow store and started negotiations with the local electronics chains.

According to Business sources, Moscow office of the chain is working out the local development strategy. It is also in search of land lots for the future Media Markt stores. By the way, one of such locations has been already chosen on the crossroads of Kutuzovsky Prospect, Third Transport Ring and Kulnev St. Besides, the chain has reached an agreement with one of the IKEA partners and all of its future outlets will be located near IKEA centres. The area of the first Media Markt hypermarket in Moscow is to be 25,000 sq. metres.

The possibility of Media Markt entrance to Russia was first mentioned by Metro Group Chairman of the Board Hans-Joachim Korber last summer. Yet the way the chain is going to develop here is still unknown. One of the Business sources is sure that the German chain is still considering purchase of the local operator. After Eldorado’s deal with Dixons, the most possible candidates for takover are M-Video and Mir. The fourth federal electronics chain Technosila differs in format too much. Mir PR Director Elizaveta Totunova denied the fact of negotiation underway, while M-Video sales and marketing Director Michael Kuchment declined to elaborate.