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Page headingMedia Markt to enter China in 2010: Agreement has been signed and confirmed by both parties

04.01.2010

Media Markt to enter China in 2010: Agreement has been signed and confirmed by both parties

Media Markt’s launch into China has been signed and sealed. At the end of last year, the Media-Saturn Group signed a joint venture agreement with a Chinese partner, the Foxconn Technology Group, regarding expansion in China. This agreement has now been confirmed by the supervisory bodies at both Media-Saturn and Foxconn. Responsibility for strategic management and business operations for the joint venture will lie with Media-Saturn. As an experienced local partner, Foxconn, the largest manufacturer of electronics and computer components worldwide, will provide Media-Saturn with support for its market launch.

It is planned that the first Media Markt stores be opened in 2010 in Shanghai. In the years that follow, further stores will be opened outside of Shanghai. This means that by the end of 2010, the Media-Saturn Group will have established its presence in 17 countries.

The opening of the first Media Markt store in China will mark the group’s expansion into what is the world’s fastest-growing economy. In the future, Chinese consumers will also be able to enjoy a wide selection of innovative consumer electronics products.

Both partners have started setting up headquarters in Shanghai. Preparations for the first stores are already in full swing. The project teams are busy selecting suppliers and personnel as well as establishing business processes.

 

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