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[DE] Germany’s Metro Group to open first branch in China

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Metro Group’s CE supermarket chain Media Markt is expected to open its first branch in China. The first store for consumer electronics (CE), Metro Group announced, will open in Shanghai, with ca. 100 more stores until 2015. Metro Group has formed a joint venture with the Chinese IT manufacturer Foxconn Technology Group, and the joint venture will be headquartered in Shanghai.

Metro Group is the fourth largest commerce company of the world, with 2195 stores in 32 countries. More than 60% of its revenue are generated outside Germany. Metro Cash & Carry opened its first stores in Egypt and Kazachstan, Metro’s supermarket chain REAL expanded in eastern Europe. All in all, Metro opened 80 new stores in 2009.

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