Status: 08.11.2021 3:16 p.m.
The new boss of the Ceconomy Group with the brands Media Markt and Saturn has announced that he will be opening new large branches across Europe. On average, however, the markets are expected to shrink somewhat.
The new head of electronics retailer Ceconomy (Media Markt, Saturn), Karsten Wildberger, wants to compete more closely with the US company Amazon with his group. “We are pursuing the clear goal of building a leading European omnichannel platform,” said Wildberger in an interview with the “Handelsblatt”. This is a platform that combines the strengths of e-commerce with stationary business.
Ceconomy used the corona crisis to expand logistics and shorten delivery times, said Wildberger: “Our goal is that we can deliver to customers who order from us on the same day.” Customers can already collect their order from the store within 30 minutes.
The CEO also announced up to 35 new large branches across Europe. These shops will also offer partner shops and event space on 5,000 to 6,000 square meters. Ceconomy has already opened a first such branch with the name “Media World” in Milan. The next location is to be added in Rotterdam.
Smaller branches for the city centers
In Germany alone, Ceconomy currently has around 400 stores. On average, however, the group wants to downsize its branches a little. “From an average store size of 2500 square meters, we plan to go down to 2200 square meters,” said Wildbeger in the “Handelsblatt”. In the city centers, the company is planning more so-called “smart shops”, which should only have an area of 600 to 800 square meters.
There is strong demand for a relevant platform company from Europe, said the manager. One in three Europeans already buy from Ceconomy. According to Wildberger, the company’s online sales have increased 4.5 times over the past 18 months, and the share of total sales is already around 33 percent.
Complete takeover as the goal
In addition, Ceconomy is pushing ahead with the plan to completely incorporate his daughter Media-Saturn. After the project had recently stalled due to shareholder lawsuits, the shareholders will vote on it again at an extraordinary general meeting next year, the company announced.
Actually, the shares in the holding company Convergenta, the family holding company of the late Media Markt co-founder Erich Kellerhals, should go to Ceconomy by the end of the summer. The Annual General Meeting originally approved this plan in mid-February, but then the plan was stopped by shareholder lawsuits. Now Ceconomy wants to vote again.
Ceconomy had announced the agreement with the Kellerhals family last December after years of dispute and actually wanted to conclude it in the financial year that ended at the end of September. With the takeover and the resulting reorganization of the shareholder structure, the Düsseldorf-based company wants to simplify the complex network of the group.
Media Markt-Saturn is to become a 100 percent subsidiary of Ceconomy. Ceconomy hopes that this will reduce complexity and improve processes. The two electronics chains Media Markt and Saturn are Ceconomy’s most important stores.