Best Buy Launches Best Buy Mobile Brand and Format in Five Star Stores in China
Best Buy Mobile store-within-a-store format expands to 14 Five Star stores this summer as a part of Global Connect
MINNEAPOLIS, MN (June 26, 2012) - Best Buy today announced it is expanding the Best Buy Mobile brand and store-within-a-store (SWAS) concept into select Five Star stores in China. In total, the Best Buy Mobile SWAS format will launch in 14 Five Star locations throughout Nanjing this summer.
The expansion of Best Buy Mobile into the Chinese market is the first evolution of Global Connect, a partnership that was formed in November 2011 between Best Buy and Carphone Warehouse. It also supports Best Buy's commitment to international growth, which is highlighted by the continued success and expansion of the Five Star brand.
"The launch of Best Buy Mobile in China is a true global effort, bringing together the best of Five Star, Best Buy and Carphone Warehouse to create a new shopping experience for consumers in China," said Shari Ballard, President, International for Best Buy. "Access to connectivity solutions has never been more important for human beings around the world. I'm thrilled to see our Global Connect efforts coming to life for customers in our Five Star stores."
This launch follows a similar model that led to the development of Best Buy Mobile in the United States in 2006. Just as Carphone Warehouse did with Best Buy five years ago, the Global Connect team is working closely with its Five Star partners to develop a mobile sales strategy that is designed for the Chinese market.
"The mobile phone market in China is growing fast and has tremendous potential," said Nicolas Wang, CEO of Five Star. "Best Buy Mobile will bring a new shopping experience to our customers in China, combining the rich experience of the Best Buy and Carphone Warehouse teams with the local knowledge of the Five Star team."
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About Five Star
As a wholly-funded subsidiary of Best Buy, Five Star is a leading enterprise in China appliance retailing market, and ranked in top 3 China appliance retailers. As a dynamic, continuously growing company, Five Star has opened over 200 stores in 7 provinces in China, and has over 23,000 staff across China. Through high-quality appliance and CE products, passionate and professional service, Five Star is committed to improving customers' life quality and bringing comfort& fun to more people. For more information about Five Star visit www.five-star.cn/
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE:BBY) is a leading multi-channel global retailer and developer of technology products and services. Every day our employees - 167,000 strong - are committed to helping deliver the technology solutions that enable easy access to people, knowledge, ideas and fun. We are keenly aware of our role and impact on the world, and we are committed to developing and implementing business strategies that bring sustainable technology solutions to our consumers and communities. For additional information about Best Buy, visit http://www.investors.bestbuy.com/.
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Source: Best Buy PR via Thomson Reuters ONE