Media-Saturn has founded a new division, Electronics Online Group, to support its intention to open a range of web shops. Its successful online shop, Redcoon (which will get a new CEO on 1 November), will be the centerpiece of that division and will also be its guiding example.
Specialized web shops
Redcoon, the 'pure player', brings in more than half of the group's online turnover and that is why the German electronics group aims to use its know-how to launch a series of new web shops. These will come in two shapes and sizes: through acquisitions and through new concepts of its own.
That is why Media-Saturn has founded the Electronics Online Group: "In addition to Media Markt and Saturn's online activities, we also want to make our mark on the online pure-play market. Based on the Media-Saturn Group's purchasing power and Redcoon's logistics in Erfurt, we see major growth opportunities for pure players like Redcoon but also for new online concepts and acquisitions in this sector", CEO Pieter Haas said.
He pointed towards the upcoming launch of a 'trendy wearables' web shop, focused on smart watches, interactive fitness bracelets and similar gadgets.
New CEO for Redcoon
Martin Sinner, who will become Redcoon's CEO on 1 November, will lead Electronics Online Group. The position of CEO had become vacant ever since co-founder Reiner Heckel sold off his final 10 % to Media-Saturn in June 2013.
Martin Sinner (47) founded German price comparison site Idealo in 2000 and he led that company until 2012 as its CEO. Since 2007, he was one of the driving forces behind Axel Springer Silicon Valley Teams, a company that supports digital start-ups.