Best Buy Looking Red
While all the talk is about Blu-ray, Best Buy is looking at red. Russia, that is. News reports from Reuters and Russia-InfoCentre are reporting that Best Buy has registered trademark rights for the Future Shop name. Future Shop is the name of the Canadian consumer electronics giant purchased by Best Buy back in 2001.
Although Best Buy hasn't officially announced its intention to move into the Russian market, the application is being reviewed by the government. This is yet another sign of Best Buy's global expansion. Where else are they?
Best Buy has indicated that its future growth is going to be focused on international expansion, a sign that demand is slowing in the US. They're also running out of viable markets in the US, so they need to look internationally.
Best Buy has recently acquired a retail chain in China and opened even more stores there. A report in TWICE says Best Buy has plans to open stores in Turkey and Mexico. It has also acquired a 50% interest in U.K.'s Carphone Warehouse. Together, they plan to open Best Buy stores all over Europe.
The global marketplace is getting smaller and smaller. Good thing I'll know where to buy a Blu-ray when I visit Red Square. -Leslie Shapiro