Best Buy Europe Distributions Ltd. was a retail joint venture owned by the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

based electronics retailer

Best Buy Best Buy Co. Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebra ...

Inc and

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

based mobile phone retailer

Carphone Warehouse The Carphone Warehouse Limited was a mobile phone retailer based in London, United Kingdom. In August 2014 the company became a subsidiary of Currys plc (previously named "Dixons Carphone"), which was formed by the merger of its former parent Ca ...

. The company was formed by Best Buy's purchase of 50% of

The Carphone Warehouse The Carphone Warehouse Limited was a mobile phone retailer based in London, United Kingdom. In August 2014 the company became a subsidiary of Currys plc (previously named "Dixons Carphone"), which was formed by the merger of its former parent Ca ...

's retail division in May 2008. Best Buy branded superstores opened in the United Kingdom beginning on April 30, 2010, with a store in

Thurrock Thurrock () is a unitary authority area with borough status and unparished area in the ceremonial county of Essex, England. It is part of the London commuter belt and an area of regeneration within the Thames Gateway redevelopment zone. The l ...

Essex Essex () is a county in the East of England. One of the home counties, it borders Suffolk and Cambridgeshire to the north, the North Sea to the east, Hertfordshire to the west, Kent across the estuary of the River Thames to the south, and G ...

. Best Buy was due to open its first stores in the United Kingdom in 2009, but in March 2009, the firm postponed this until 2010, with plans for up to two hundred stores eventually. Carphone originally intended to open up to two hundred Big Box stores in Europe by 2013, but this goal was reduced to one hundred. On November 6 2011,

announced its intention to close the eleven Best Buy "big box" format stores. On 14 January 2012, the

Europe joint venture was discontinued, with all eleven stores and the transactional website (www.bestbuy.co.uk) closing on that day. Bestbuymerryhill

History

Co., Inc. is a

Fortune 100 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along w ...

company, and the largest speciality

retailer Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

consumer electronics Consumer electronics or home electronics are electronic (analog or digital) equipment intended for everyday use, typically in private homes. Consumer electronics include devices used for entertainment, communications and recreation. Usually r ...

in the

and

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...

, accounting for 21% of the market.Boyle, Matthew.
Best Buy's Giant Gamble
" ''

CNN CNN (Cable News Network) is a multinational cable news channel headquartered in Atlanta, Georgia, U.S. Founded in 1980 by American media proprietor Ted Turner and Reese Schonfeld as a 24-hour cable news channel, and presently owned by ...

.'' March 29, 2006. Retrieved on November 28, 2006. The company's subsidiaries include

Geek Squad Geek Squad Inc. is a subsidiary of American and Canadian multinational consumer electronics corporation Best Buy, headquartered in Richfield, Minnesota. The subsidiary was originally an independent company founded by "Chief Inspector" Robert Step ...

Magnolia Audio Video ''Magnolia'' is a large genus of about 210 to 340The number of species in the genus ''Magnolia'' depends on the taxonomic view that one takes up. Recent molecular and morphological research shows that former genera ''Talauma'', ''Dugandiodendro ...

, and Pacific Sales; in Canada the Best Buy Canada subsidiary also operated under the

Future Shop Future Shop was a Canadian electronics store chain. It was established in 1982 by Hassan Khosrowshahi. By 1990, the chain had become the country's largest retailer of computer and consumer electronics. In January 2013, the company operated 139 l ...

label until 2015. Together, these operate more than 1,150 stores in the

Puerto Rico Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

and

Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a list of transcontinental countries, transcontinental country located mainly on the Anatolia, Anatolian Peninsula in Western Asia, with ...

. The company's corporate headquarters are located in

Richfield, Minnesota Richfield is a suburban city in Hennepin County, Minnesota, United States near the confluence of the Mississippi River and the Minnesota River at Fort Snelling. An inner ring suburb of Minneapolis, it is bordered by Minneapolis to the north, Minn ...

, United States (near

Minneapolis Minneapolis () is the largest city in Minnesota, United States, and the county seat of Hennepin County. The city is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks and waterfalls. Minneapolis has its origins ...

). On June 26, 2007, Best Buy announced a 40% increase in its operations, with plans to operate more than 1,800 stores worldwide, including 1,400 Best Buy stores in the United States.

was co founded in 1989, when most portable phones were too bulky to carry and called

car phone A car phone is a mobile radio telephone specifically designed for and fitted into an automobile. This service originated with the Bell System and was first used in St. Louis on June 17, 1946. Overview The original equipment weighed , and th ...

s, by then CEO

Charles Dunstone Sir Charles William Dunstone (born 21 November 1964) is the British co-founder and former chairman of mobile phone retailer Carphone Warehouse, former chairman of multinational electrical and telecommunications retailer and services company Dix ...

(together with David Ross) from £6,000 savings. The two companies first began working together in 2006, creating ''Best Buy Mobile'' stores in the

and introducing

in the

. The first Best Buy store in the United Kingdom opened at ''Junction Retail Park'', near

Lakeside Shopping Centre Lakeside Shopping Centre, is a large out-of-town shopping centre located in West Thurrock, Essex just beyond the eastern boundary of Greater London. It was constructed on the site of a former chalk quarry. The first tenants moved into the compl ...

on 30 April 2010. Twenty locations were originally planned for in the coming year, all to be in the big box format. The company was looking for a flagship store in

Central London Central London is the innermost part of London, in England, spanning several boroughs. Over time, a number of definitions have been used to define the scope of Central London for statistics, urban planning and local government. Its characteris ...

by July 2008, in a prominent area such as Piccadilly Circus,

Oxford Street Oxford Street is a major road in the City of Westminster in the West End of London, running from Tottenham Court Road to Marble Arch via Oxford Circus. It is Europe's busiest shopping street, with around half a million daily visitors, and as ...

, or

Regent Street Regent Street is a major shopping street in the West End of London. It is named after George, the Prince Regent (later George IV) and was laid out under the direction of the architect John Nash and James Burton. It runs from Waterloo Place ...

. For fiscal year 2011, Best Buy UK saw full year losses nearly triple to £62.2m, equivalent to just over £10m for each of its stores trading during the period. Growth had been slower than some expected. The company blamed the grim results on "impressive" investments in its new stores but it is "evaluating" the next step in its strategy. The company had been reported to be considering bidding for

Comet Group Comet Electricals Limited, trading as Comet, is an online electrical retail chain based in the United Kingdom. The company sells consumer electronics and white goods, along with related products and services. Its predecessor, under the same bra ...

. The company closed all of its stores in the United Kingdom on 14 January 2012, due to poor financial results. The Best Buy/Carphone Warehouse partnership ended in June 2013, with Carphone buying back their 50% share from the American retailer.

Locations

Southampton Southampton () is a port city in the ceremonial county of Hampshire in southern England. It is located approximately south-west of London and west of Portsmouth. The city forms part of the South Hampshire built-up area, which also covers Po ...

, Hedge End Retail Park *

Dudley Dudley is a large market town and administrative centre in the county of West Midlands, England, southeast of Wolverhampton and northwest of Birmingham. Historically an exclave of Worcestershire, the town is the administrative centre of the ...

Merry Hill Shopping Centre Merry Hill (formerly Westfield Merry Hill and The Merry Hill Shopping Centre) is a large shopping complex in Brierley Hill near Dudley, England. It was developed between 1985 and 1990, with several subsequent expansion and renovation projects ...

Aintree Aintree is a village and civil parish in the Metropolitan Borough of Sefton, Merseyside, England. Historically in Lancashire, it lies between Walton and Maghull on the A59 road, north-east of Liverpool city centre, in North West England. It i ...

, Racecourse Retail Park *

Croydon Croydon is a large town in south London, England, south of Charing Cross. Part of the London Borough of Croydon, a local government district of Greater London. It is one of the largest commercial districts in Greater London, with an extensi ...

, Trafalgar Way Retail Park *

Derby Derby ( ) is a city and unitary authority area in Derbyshire, England. It lies on the banks of the River Derwent in the south of Derbyshire, which is in the East Midlands Region. It was traditionally the county town of Derbyshire. Derby gai ...

, Kingsway Retail Park * Hayes, Lombardy Retail Park *

Cribbs Causeway Cribbs Causeway is both a road in South Gloucestershire, England, running north of the city of Bristol, and the adjacent area which is notable for its out-of-town shopping and leisure facilities. The retail and leisure complex takes its name fr ...

Bristol Bristol () is a city, ceremonial county and unitary authority in England. Situated on the River Avon, it is bordered by the ceremonial counties of Gloucestershire to the north and Somerset to the south. Bristol is the most populous city in ...

Rotherham Rotherham () is a large minster and market town in South Yorkshire, England. The town takes its name from the River Rother which then merges with the River Don. The River Don then flows through the town centre. It is the main settlement of ...

, Retail World Shopping Park *

Enfield Enfield may refer to: Places Australia * Enfield, New South Wales * Enfield, South Australia ** Electoral district of Enfield, a state electoral district in South Australia, corresponding to the suburb ** Enfield High School (South Australia) ...

, Enfield Retail Park *

Nottingham Nottingham ( , East Midlands English, locally ) is a city status in the United Kingdom, city and Unitary authorities of England, unitary authority area in Nottinghamshire, East Midlands, England. It is located north-west of London, south-east ...

, Castle Marina Retail Park

References

{{Reflist Best Buy Consumer electronics retailers of the United Kingdom British subsidiaries of foreign companies Retail companies established in 2006 Retail companies disestablished in 2012