Best Buy Europe was formed with the acquisition of 50% of
UK-based mobile phone operation
Carphone Warehouse's retail division. Best Buy announced that it would open branded superstores in the UK and other European countries.
Best Buy was due to open its first UK stores in 2009,
but postponed this until 2010, with plans for up to 200 stores eventually.
It was reported that the company may bid to purchase one or both of its UK rivals
Kesa Electricals (owner of
Comet),
DSG International (owner of
Currys and
PC World), though such a move would require competition commission approval.
Best Buy is sometimes called the "big blue box" because of the prominent design on Best Buy stores. This store is located in
East Palo Alto, California.
History
Best Buy Co., Inc. is a
Fortune 100 company and the largest specialty
retailer of
consumer electronics in the
United States and
Canada, accounting for 21% of the market.
[Boyle, Matthew. "." CNN. March 29, 2006. Retrieved on November 28, 2006.] The company's subsidiaries include
Geek Squad,
Magnolia Audio Video,
Pacific Sales, and, in Canada the Best Buy Canada subsidiary operates most stores under the
Future Shop label. Together these operate more than 1,150 stores in the
United States,
Puerto Rico,
Canada,
China,
Mexico and
Turkey. The company's corporate headquarters are located in
Richfield, Minnesota, USA (near
Minneapolis). On
June 26,
2007, Best Buy announced a 40% increase in its operations, with plans to operate more than 1,800 stores worldwide, including 1,400 Best Buy stores in the U.S.
The Carphone Warehouse was co-founded in 1989, when most portable phones were too bulky to carry and called
car phones, by current CEO
Charles Dunstone (together with David Ross) from £6,000 savings.
The two companies first began working together in 2006, creating Best Buy Mobile stores in the
United States and introducing
Geek Squad in the
United Kingdom.
UK stores
Best Buy has revealed the first 2 UK locations which will be in
Thurrock and
Southampton; 20 locations are planned for 2010 which will all be
big box format. however the company is looking for a flagship store in
Central London in a prominent area such as
Piccadilly Circus,
Oxford Street or
Regent Street. Construction has started at Hedge End Retail Park near Southampton, opening 2010.
