The largest consumer electronics retailer in Germany is CECONOMY AG in Düsseldorf with a turnover of 21.5 billion euros (2018/19). CECONOMY was created in 2017 by splitting up the old Metro Group. It unites under its roof the consumer electronics division of the former group. The food division will be continued within METRO AG. It was hoped that the separation would lead to a better development of both divisions. CECONOMY operates the consumer electronics centers Saturn and Mediamarkt. There are about 1000 Media and Saturn stores in 14 European countries including Turkey. More than 40 percent of them are located in Germany, other countries with a strong presence are Italy (115), Poland (86), Spain (85) and Turkey (71). This article is based on the unique List of the 400 largest German trading companies.
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Majority owned stores of MediaMarktSaturn Retail Group (Ingolstadt)
In organizational terms, the Ingolstadt-based MediaMarktSaturn Retail Group (Media-Saturn-Holding GmbH) acts as an umbrella and bracket for the stores. The individual Media and Saturn stores are managed as legally independent companies. The MediaMarktSaturn Retail Group holds the majority of capital in each case, the store managers are minority shareholders – usually with a 10 percent stake. The CECONOMY Group employs around 62,000 people. The largest shareholder in both CECONOMY and METRO AG is the family-run investment holding company Franz Haniel & Cie. It holds a stake of slightly less than one quarter in CECONOMY.
Source: Listenchampion
Picture source: Unsplash
