Best Buy INC. (BBY), the largest consumer electronics Retailer in the United States and Canada, appears to be taking a good look at RUSSIA (the 'R' in BRIC) as a possibility for expanding its current GLOBAL footprint (BBY currently operates over 1,300 retail locations throughout the United States, Canada, Puerto Rico, China, Mexico and Turkey). Earlier this month, the $20 Billion MULTInational corp received Russian government approval for trademark rights belonging to the 'Future Shop' brand in Russia. While Best Buy has yet to publicly voice any formal expansion plans regarding entry into the former Soviet Union, one (and by 'one' I mean 'I') has (and by 'has' I mean 'have') to believe that the large Russian market offers both attractive Sales GROWTH and excellent Geographic Sales DIVERSIFICATION opportunities to the largely North American business.FYI, In addition to operating 'Best Buy' branded stores throughout North America, Best Buy INC. wholly owns and operates more than 150 'Future Shop' retail locations...most of which (over 130 stores) are located in Canada.
http://www.reuters.com/article/ousiv/idUSLF59351520080815
According to the Reuters link above, Best Buy filed its trademark applications with Russia's government patent agency, Rospatent, back in 2006. While trademark protection for 'Future Shop' has been received, BBY is still awaiting Rospatent's decision on the company's more well known trademark/brand name - 'Best Buy'.
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* Best Buy INC. wholly owns several SUBSIDIARIES including: Future Shop...Geek Squad...Magnolia Audio Video...Pacific Sales (Kitchen and Bath Centers)...Speakeasy, etc.
* In addition to the above listed wholly owned subsidiaries, BBY also owns sigificant stakes in both Best Buy Mobile (a joint venture with London-based Carphone Warehouse - Europe's largest independent cell phone retailer) and China's Five Star. Best Buy owns a 75% majority interest in Five Star, one of China's largest appliance and consumer electronics retailers. As of March 1st 2008, Best Buy operated 160 Five Star retail locations in China.
* Best Buy acquired Vancouver-based Future Shop in March 2001 for 500 million Canadian dollars.
* As mentioned above..In total, Best Buy currently operates around 1,300 retail locations throughout the United States, Canada, Puerto Rico, China, Mexico and Turkey.
Data Courtesy: Reuters + Wikipedia
Full Disclosure: I own shares of BBY.
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