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METRO Group accelerates growth in Asia – Media Markt seals market entry into China

04.01.2010

METRO Group accelerates growth in Asia – Media Markt seals market entry into China

The first Media Markt stores are expected to open in Shanghai in 2010. Further store openings also outside of Shanghai are planned for the next few years.  By the middle of the decade, METRO Group sees a potential of more than 100 stores in China that will open up sizable job opportunities. China is the 17th country in which Media-Saturn will operate.

14 years after Metro Cash & Carry entered the Chinese market, now also a second METRO Group sales division expands into the world's fastest growing economy. "The Chinese market offers excellent growth opportunities for METRO Group and is of an outstanding strategic importance to us. We are excited to tap this market together with our strong joint venture partner Foxconn," said Dr Eckhard Cordes, CEO of METRO Group. "METRO Group is already very well positioned in the dynamic and growing Asian market with Metro Cash & Carry. In future, also Media Markt will offer Chinese consumers a wide and innovative product assortment and thus also contribute to safeguarding jobs in Germany."

The parties have started setting up their headquarters in Shanghai. Preparations for the first stores are well underway. The project teams are looking into the selection of suppliers and employees as well as the establishment of the operations.

About Media-Saturn
With a net revenue of 19 billion euros and a headcount of over 60,000 employees in 2008, Media Markt and Saturn are Germany's and Europe's Number One consumer electronics retailers. The success enjoyed by the two retail brands, which are housed under the roof of Media-Saturn-Holding GmbH, is based on a unique selection of low-priced brand-name products, competent staff, excellent service, a distinctive advertising presence and a decentralised organisational structure. Each general manager is a shareholder in his own store and is thus responsible for the products offered, as well as for pricing, personnel and marketing. The Media Markt and Saturn brands are managed independently of one another and are competing retail brands. The Media-Saturn Group, in which METRO AG has a majority shareholding, currently has 768 stores in 16 European countries. More information at: www.media-saturn.com.

About METRO Group
METRO Group is one of the largest and most international retailing companies. In 2008 the Group reached sales of € 68 billion. The company has a headcount of some 300,000 employees and operates around 2,100 stores in 33 countries. The performance of METRO Group is based on the strength of its sales divisions which operate independently in their respective market segment: Metro/Makro Cash & Carry – the international leader in self-service wholesale, Real hypermarkets, Media Markt and Saturn – European market leader in consumer electronics retailing, and Galeria Kaufhof department stores.

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