Company history

Back in the 1970s, each type of consumer electronics could be purchased in the corresponding specialist store. Thus, Walter Gunz, Leopold Stiefel, Erich Kellerhals, and Helga Kellerhals had the idea of opening a retail store that would offer everything in one place at lower prices than those specialist stores.  In 1979, the first Media Markt opened its doors to customers in Munich, followed by the expansion to France, Austria, Switzerland, Hungary, and Poland during the 1990s. Until 2007, Media Markt quickly expanded into Russia, Greece, Portugal, Spain, Netherlands, Belgium, Italy, Sweden, and Turkey. In 2010, the first Media Markt opened in China, making it a total of 615 stores worldwide.

The Saturn Elektro-Handels GmbH und Co KG, founded in Cologne in 1961 by Friedrich Wilhelm and Anni Waffenschmitt, was primarily known for spotting entertainment and electronics trends at an early stage and was a pioneer in introducing hi-fi stereo systems. After solely catering to diplomats from all over the world, they quickly recognised the potential of private customers and started to open up retail stores in different cities, always putting customer service at the forefront. In 1969, Saturn opened the world’s biggest hi-fi studio and soon started to offer self-service. Over the years, Saturn diversified its product range, also beginning to offer video equipment and other electronics.

In 1988, the German department store Kaufhof acquired shares in the Media Markt holding and consequently supported the rapid expansion of the consumer electronics retailer. In 1990 and 1993, the later on called Media-Saturn Holding GmbH acquires all Saturn stores; however, they decided to keep both of the brands in order to spur their growth. Until today, both stores are in direct competition, fighting for the most creative advertisements in order to attract customers.

Key people

Horst Norberg, CEO

Horst Norberg currently serves as the Chief Executive Officer and Chairman of the Management Board of Media-Saturn-Holding. He already joined the company back in 1987 and served as Chairman of the Management Board of Saturn Management GmbH, where he was responsible for Marketing, HR Development and Advertising.

Dr. Rolf Hagemann, CFO

Dr. Rolf Hagemann serves as Chief Financial Officer of Media-Saturn-Holding and is responsible for Finance and Accounting, as well as for Corporate Analysis. Before joining the company, he was a Member of the Executive Board and CFO at BMW North America.