Metro's Saturn chain exits Belgium | RetailDetail

Metro's Saturn chain exits Belgium

Metro's Saturn chain exits Belgium

German electronics group Media Markt - Saturn today announced its intentions to end the Saturn formula in Belgium: most of the Saturns will continue as a Media Markt, but the store in Antwerp will be closed. The changes mark the end of a six-year existence for Saturn in Belgium.

Media Markt no longer pursues two brand strategy

The board of Media Markt-Saturn Belgium has announced today that they no longer wish to pursue the two brand strategy with both Media Markt and Saturn. The group prefers to focus on the further growth of the Media Markt brand.

 

The move does not really come as a big surprise: pushing the French Saturns away was considered to be a great success internally and Saturn’s weak results had already put the two brand strategy under pressure for a while. The Belgian stores in Kortrijk, Bruges, Wilrijk and Liège will now be turned into Media Markt stores, similar to what happened in Switzerland earlier this year.

 

Meir loses major attraction

Saturn's flagship store at the Meir in Antwerp will fare rather differently, as Media Markt already has a large store in the Century Center on the De Keyserlei, just down the street from the Meir. The board of Media Markt-Saturn Belgium has therefore declared today that it is their intention to close down the store in the Stadsfeestzaal.

 

It hopes to accommodate the 54 employees in other stores, avoiding forced layoffs as much as possible. Saturn’s complicated organizational structure may however hamper the employees’ easy transition to other stores.

 

"Ten additional stores"

To compensate for the Antwerp store closing,  Media Markt "intends to open an additional 10 stores in the next three years, starting with Media Markt Mechlin in November. After that, a new store will be opened in Turnhout in the fall of 2014. That signifies a total investment of 30 million euro and some 500 to 600 new job openings”, states CEO Sven Degezelle.

 

Media Markt-Saturn Belgium, a Metro subsidiary, had a turnover of 646 million euro in 2012 and currently employs over 1,500 people. On a worldwide scale, Media-Saturn has 942 stores in 15 countries, bringing in a net turnover of nearly 21 billion euro with 55,000 employees.

Questions or comments? Please feel free to contact the editors


Smartphone sales drop for the first time ever

22/02/2018

2017 may have been a record year for smartphone sellers, but the market is weakening: for the first time since 2004, there were fewer smartphone sales in the fourth quarter.

Merger paid off for Fnac Darty

22/02/2018

French entertainment and electronics retailer Fnac Darty (owner of Belgian chain Vanden Borre and Dutch BCC) has experienced a “solid 2017”, with a nearly 40 % turnover increase.

Ceconomy finds growth online

09/02/2018

Ceconomy, Media Markt and Saturn’s parent company, revealed a small turnover growth for its first quarter, thanks to improved online sales. Expectedly, its profit did drop.

Insurance company becomes second largest Fnac-Darty shareholder

08/02/2018

There has been yet another thorough shake-up among Fnac Darty’s shareholders. The merger company, which owns Belgian electronics chain Vanden Borre and Dutch retailer BCC, will now welcome insurance company SFAM, after it bought investment fund Knight Vinke’s shares.

Record profit for Apple despite disappointing sales

02/02/2018

Apple broke its turnover and profit records in the first quarter of its fiscal year, which ended on 30 December 2017. Nevertheless, there are unfavourable signals, because iPhone sales were below expectations.

Computer chips reason for Samsung's record profit

31/01/2018

Korean technology company Samsung’s fourth quarter resulted in a record profit, mainly thanks its chip division, where prices remain sky high.

Back to top