International Expansion - Best Buy in the Romania & the Republic of Lebanon



International Expansion - Best Buy in the Romania & the Republic of Lebanon

Introduction

Best Buy sells consumer electronics as well as a large number of different products such as computers, computer software, video games, music, DVDs, mobile phones, digital cameras and video cameras and home appliances such as dishwashers, dryers and freezers. Every business, Best Buy has further a range of equipment for vehicles. Best Buy has even some brands that are sold in the stores of Best Buy. Best Buy currently has five commercial brands: Insignia, Dynex, Init, Geek Squad, and Rocketfish. Best Buy was founded in 1966, when Richard M. Schulze and business partner is a company with the company's name Sound of Music in Saint Paul, Minnesota opened. 1967 Sound of Music, the company acquired Kencraft Hi-Fi Company and Bergo Company. The second store was near the University of Minnesota, and opened the third store in downtown Minnesota. In 1969 the course was to go public.

In 2001 Best Buy acquired Future Shop Ltd., the Canadian company. And thereby received access to the Canadian retail market for consumer electronics. In 2002 the company was Geek Squad acquired. In 2007, a class action lawsuit against Microsoft and Best Buy on appeal before the United States Court of Appeals for the Ninth Circuit in San Francisco - despite misgivings - on the basis of the RICO Act allowed (Bianchi, 2011). The lawsuit was brought in April 2000 by James Odom, who accused both companies of fraud, because they exchanged for purchases made on credit cards and customer information, the customer will not be informed about it. Microsoft had committed to an investment of 200 million U.S. dollars in Best Buy, advertise for this company, in return, the trader should apply using Microsoft products.

2008 gave Best Buy and Carphone Warehouse announced the formation of a joint venture, in which both sides hold 50%. In Izmir in 2010 opened the first best-buy market in Turkey, followed in the UK in spring 2010, the first British settlement. It is anticipated that Best Buy will try, in the long term to take root across Europe (Chanakira, 2009). The retail stores are usually fitted in a light brown color and the entrance is decorated in blue. Best Buy came in February 2008 in the headlines, there was elevated due to a lost notebook an action for damages in the amount of 54 million dollars.

Discussion

Traditionally, Lebanon has always been a center of retail trade dynamics. With a climate and an open mind to the people, the country attracts tourists from Arab and Gulf, and European. Lebanese expatriates are also an important source of revenue for the country. All, or nearly the top brands in Lebanon can be found in malls and super markets have proliferated in recent years. Recently, two important events have given new life to the entire retail sector in Lebanon (Cohen, 2009). The festival shopping aimed at attracting tourists for a ...