The largest European retailer believed in Russia, the new Shuvalov aircraft and the secrets of Tiffany

Instead of leaving Russia, Media Markt decided to invest in our market - why? Details in the evening newsletter The Bell

Photo: Wikimedia Commons

The Russian retail market has almost been growing for the past three years for the past three years, but the owner of the largest Media Markt electronics stores in Europe, the German Ceconomy Group, decided that it has prospects. Instead of, as planned, to leave Russia, Ceconomy will exchange the Russian Media Markt with 15% M. Video with an additional payment of almost $ 300 million.

• The Safmar group Mikhail Gutseriev, who bought up the federal networks of M. Video, Eldorado and Technosila for several years, and has already become inaccessible to competitors as the leader of the Russian market. After the transaction with Media Markt, the United Company will take 29.2% of the Russian market.
• Media Markt is the largest seller of household appliances and electronics in Europe. Its revenue in 2016 amounted to € 22 billion. Until 2017, MSH was a member of Metro Group (in Russia, it owns the Metro Cash & Carry network), but last year it was decided to transfer the Ceconomy Group company business trade.
• Media Markt was published in Russia in 2006. Then, in the retailer electronics market, they were waiting for about the same as on the grocery-the failed parish of Wal-Mart. But the Russian business at Media Markt did not ask. Over the past five years, according to analysts, the company has incurred 13 billion losses in Russia. This is not surprising: after the accession of Crimea and the introduction of sanctions, the growth of the Russian retail market slowed down three times.

• When Media Markt went to Russia, it seemed only one of the first in the long line of foreign retail giants ready to win the Russian market. In fact, he turned out to be the last - except for the French Carrefour, who worked in Russia for only six months.
• The CECONOMY report says that the group planned to leave Russia, but the deal will allow it to become a shareholder of the leader of the Russian retail market. A source close to Ceconomy in April told Reuters that the company usually aims to acquire complete control over business, and buying 15% of M. Video can only be an intermediate step. In today's release, the company writes that it is counting on the growth of the Russian market and offline, but the main driver of growth will be online trade.

What am I to me?

The Media Markt deal with M. Video is one of the rare reasons for optimism recently. A foreign investor instead of leaving the Russian market, investing real money in the prospect of its growth - and this is not about raw materials. After the 1998 crisis, foreign companies that dared to stay in Russia were able to remove cream with subsequent rapid growth. Now there are no reasons for a sharp restoration of the Russian economy, but the deal with Media Markt is another confirmation that retail is a market in which rapid growth due to the development of online in Russia is now possible.

MONEY

The new Shuvalov business jet

Igor Shuvalov has not only a new job , but also a new personal aircraft , Forbes found out. The world's largest Gulfstream G650 business jet worth $ 55-65 million is recorded in the same Luxembourg company that owned the previous Schuvalov family aircraft, the famous Corgi transportation to dog exhibitions. The Bell found data on business jet routes. Like the previous one, most often he flies to Austria, where the family of the ex-vice-prime minister owns the estate, and at the end of May he flew to St. Petersburg on the day when Vladimir Putin at the PMEF appointed Shuvalov by the chairman of the VEB.

The income of Russians stopped growing again

Since February, the real income of Russians for the first time since 2014 confidently, by 4-6%, grew-but in May a positive trend almost broke out: the growth by May 2017 amounted to only 0.3%. The fall compared to April 2018 (traditional due to long holidays in May) amounted to 9.3% -twice as much as last year. If everything continues at the same pace, Vladimir Putin in the second for this year will not be able to repeat the phrase said during the March Epistle that "we reached a steady increase in citizens' incomes."

PRACTICE

Moscow restaurants in the world top 100

But there are good news - of course, for those Russians whose income did not fall. As many as three Moscow restaurantswere included in the world rating of the TOP-100 The Worldʼs Best Restaurants. A traditional participant in restaurant ratings and the winner of the competitions, White Rabbit in the Smolensk Passage-in 15th place. 70s-at the Selfi restaurant in the Novinsky Passage, in 76th place-the Twins Garden restaurant on a passionate boulevard. The first place in the world top was taken by Osteria Francescana restaurant of the famous chef of Massimo Bottura in the Italian Moden.

How Tiffany is chosen from a crisis

Despite the fact that in the United States, the number of people who entered into marriage reached historically low level (from 78% in 1950 to 48% in 2018), this year Tiffany managed to increase the volume of sales of engagement rings by 11%, putting the end of the three-year fall-not in new products or a change in price policy, but in a new approach to marketeering, writes WSJ. Instead of white models in the form of happy brides - representatives of minorities and same -sex couples, and in addition - more aggressive marketing techniques: for example, Tiffany painted everything that was located next to the brand’s main store to open the new collection.

Peter Mironenko