Media-Saturn buys Russian e-commerce retailer
Metro Group-controlled Media-Saturn has acquired the Russian consumer electronics e-commerce retailer 003.ru from the company’s founder, Vladislav Oulendeev, subject to approval by the relevant anti-trust authorities. The move is seen as an attempt to progress Media-Saturn’s online strategy. “Our objective is to position our new subsidiary in Russia as an inexpensive online retailer, similar to Redcoon in Western Europe," said Horst Norberg, CEO of Media-Saturn. Both companies have agreed not to disclose the purchasing price.
003.ru was founded in 2000 and generated sales of EUR20 million (USD27.8 million) in 2011. In future, 003.ru will continue to be managed as an independent entity and further expanded under its current name. Oulendeev will remain with the company.
Media-Saturn entered Russia in 2006 and currently operates 37 stores with sales of EUR873 million (USD1.2 billion) in 2011. Its consumer electronics e-commerce banner mediamarkt.ru was launched in 2011.
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