CECONOMY

What CECONOMY does

CECONOMY AG is the leading European consumer electronics retail platform, headquartered in Düsseldorf, Germany, and publicly listed on the Frankfurt Stock Exchange (MDAX) under ticker CEC. The company operates over 1,008 physical stores across 11 European countries through its MediaMarkt, Saturn, and MediaWorld brands, complemented by owned e-commerce platforms and a growing third-party marketplace with more than 2,600 sellers and approximately 4.0 million products. With approximately 50,000 employees and an online revenue share of 30.1% as of Q1 2025/26, CECONOMY serves individual consumers and, increasingly, brand partners through its retail media network of over 30,000 in-store screens and loyalty data assets.

The company generates revenue through five streams: product retail sales across physical and online channels, marketplace commissions, services and solutions (warranties, installation, repairs), retail media advertising, and Space-as-a-Service partnerships such as the Decathlon store-in-store concept launched in Munich in March 2026. Its proprietary technology stack includes an omnichannel platform integrating marketplace, retail media, click-and-collect express, and logistics capabilities enhanced through a strategic partnership with JD.com, which acquired an approximately 85.2% controlling stake in late 2025 for €2.2 billion. The technology backbone supports private label brands (ISY, PEAQ, ok., KOENIC) and the BetterWay sustainability certification program covering 7,486 products with 25.1% revenue share.

CECONOMY is executing a strategic transformation from a product-led retailer toward a customer-centric omnichannel service platform, leveraging growth areas including Services & Solutions, Retail Media, Marketplace, and Space-as-a-Service. JD.com ownership, secured via a July 2025 voluntary public takeover offer at €4.60 per share, provides access to advanced logistics and e-commerce technology to accelerate digital transformation, subject to ongoing regulatory scrutiny in Austria and under the EU Foreign Subsidies Regulation. The company has reported 12 consecutive quarters of EBIT growth, with FY 2025/26 adjusted EBIT guidance of approximately €500 million, and continues to expand internationally through marketplace launches and Space-as-a-Service partnerships across its European footprint.

Name

CECONOMY

Legal name

CECONOMY AG

Website

https://ceconomy-mms.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CECONOMY AG is the leading European consumer electronics retail platform operating over 1,008 MediaMarkt, Saturn, and MediaWorld stores in 11 countries alongside e-commerce, marketplace, retail media, and services. The Düsseldorf-headquartered company serves approximately 50,000 employees and is majority-owned by JD.com since late 2025.

Ownership category

akta.pro rank

Product category

Consumer Electronics Retail

NAICS

Electronics and Appliance Retailers (4492)

SIC

Retail-Radio, Tv & Consumer Electronics Stores (5731)

akta.pro primary industry

Big-Box Electronics + Major Appliances Retail (CRACAAAB)

akta.pro secondary industries

Consumer Electronics & Appliances Marketplaces (CRAFABAD), Consumer Electronics & Appliances Online Retailers (CRAFADAD)

Keywords

• Consumer electronics retail
• Omnichannel retail platform
• Retail media advertising
• Electronics marketplace
• Extended warranty services

Headquarters

HQ city

Düsseldorf

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain

Revenue model

1. Product Sales (Retail): Revenue from sale of consumer electronics products through MediaMarkt, Saturn, and MediaWorld stores and online platforms. Includes both physical store and e-commerce sales.
2. Online/Marketplace Revenue: Revenue from online sales including marketplace GMV of over €527 million in FY 2024/25, with online sales accounting for 30.1% of total revenue. The marketplace generated high double-digit revenue growth.
3. Services & Solutions: Revenue from warranty insurance, extended warranties, installation services, and other value-added services. Strong growth in warranty insurance mediation noted.
4. Retail Media: Revenue from advertising solutions offered to brands through digital display ads, in-store screens, and onsite campaigns targeting consumers where purchase decisions are made
5. Space-as-a-Service: Rental income from subleasing store space to partners, such as the strategic cooperation with Decathlon in Germany

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

CECONOMY sells consumer electronics products (TVs, computers, smartphones, appliances, gaming) through MediaMarkt, Saturn, and MediaWorld physical stores and owned e-commerce platforms across 11 European countries. Beyond product sales, it operates an online marketplace with 2,600+ third-party sellers, offers retail media advertising through 30,000+ in-store screens, and delivers value-added services including warranty insurance, installation, repairs, trade-in, and Space-as-a-Service store partnerships.

Product overview

CECONOMY AG operates as a leading European consumer electronics retail platform combining physical store operations with digital services. The portfolio centers on MediaMarkt and Saturn retail brands (over 1,000 stores across 12 European countries), complemented by the MediaMarktSaturn Marketplace (2,600+ sellers, 4M+ products), Retail Media advertising services (30,000+ in-store screens, loyalty data), and value-added services including repair, trade-in, warranty insurance, and Space-as-a-Service partnerships. Private labels (ISY, PEAQ, ok., KOENIC) and the BetterWay sustainability program round out the offering. The company is transforming from a product-driven retailer toward a customer-centric omnichannel service platform for consumer electronics.

Differentiator

Problem solved

Functional benefit

Products and services

• MediaMarkt Retail Stores
• Saturn Retail Stores
• MediaMarktSaturn Marketplace
• MediaMarktSaturn Retail Media
• MediaMarktSaturn Services & Solutions
• Space-as-a-Service
• Trade-In Program
• Private Labels (ISY, PEAQ, ok., KOENIC)
• BetterWay Product Program

Quantifiable outcome

• 30.1% online revenue share achieved
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• Serviceplan GroupcoreStrategic or Co-development Partner · 7 May 2026MediaMarktSaturn and Serviceplan Group developed the MOMENTUM model for marketing production in Europe, a forward-looking approach to creative marketing operations.
• Jürgen KloppflagshipGTM or Marketing Partner · 7 May 2026Former football manager Jürgen Klopp serves as brand ambassador for MediaMarktSaturn, appearing in international campaigns including the World Cup 2026 campaign 'Sorry, ist halt WM' and trade-in promotions.
• Austria (Investment Control)minorOthers · 30 March 2026Austrian regulators delayed approval of JD.com's acquisition citing concerns under the Investment Control Act, creating uncertainty around deal completion. The Austrian Federal Ministry of Economy raised objections and refused joint solution-finding discussions.
• DecathlonflagshipStrategic or Co-development Partner · 26 March 2026Strategic cooperation for Space-as-a-Service model in Germany. First joint Store-in-Store location opened in late March 2026, covering approximately 1,000 square meters at a MediaMarkt location in Munich. The concept is planned for expansion to additional MediaMarktSaturn locations in Germany during 2026 and 2027.
• SnapdragonflagshipGTM or Marketing Partner · 16 March 2026Premium partner for Tomorrowland festival international campaign 'Tomorrow's AI', featuring joint marketing activities with MediaMarktSaturn across European markets.
• Italy (Golden Power)minorOthers · 10 December 2025Italy approved JD.com's takeover of CECONOMY with conditions relating to data protection under its 'golden power' framework for foreign investments in strategic sectors.
• JD.comcoreStrategic or Co-development Partner · 31 July 2025JD.com, China's third-largest e-commerce company, acquired approximately 59.8% (later 85.2%) of CECONOMY for €2.2 billion. The partnership aims to combine JD's e-commerce and logistics capabilities with CECONOMY's physical retail network to accelerate digital transformation. JD.com has committed to no workforce reductions or site closures for five years following settlement. The deal faced regulatory scrutiny in Austria and EU subsidy investigations.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Fnac Darty: France-headquartered multi-channel consumer electronics and home appliance retailer operating Fnac and Darty stores across France, Spain, Portugal, Belgium, Switzerland, and Luxembourg. CECONOMY even held a ~24.33% stake in Fnac Darty since 2017, making it the most directly comparable European CE retail peer in scale, format, and category mix.
• Currys plc: UK-listed consumer electronics retailer operating Currys in the UK & Ireland and Elkjøp across the Nordics, with a comparable omnichannel mix of physical stores, online, and services. Closest public-market peer by business model, category focus, and European geographic overlap with MediaMarkt/Saturn.
• Coolblue: Netherlands-based pure-play and omnichannel consumer electronics retailer active in the Netherlands, Belgium, and Germany, with a strong services and installation offering. Direct competitor in the Dutch/Belgian/German CE market with comparable category mix and an even stronger digital-first reputation.
• Worten: Portuguese and Spanish consumer electronics retailer acquired by JD.com in 2024. Effectively a sister company to CECONOMY within the JD.com ecosystem and a directly comparable CE retail operator in Iberia — useful as a real-world precedent for how JD.com has integrated a European CE retailer.
• Euronics: International alliance of independent consumer electronics and appliance retailers spanning 30+ European countries with ~6,500 stores. Competes head-to-head with CECONOMY's MediaMarkt/Saturn banners across most of its footprint and is the principal cooperative competitor in European CE retail.

Regional players

• Expert International: International cooperative of independent consumer electronics and home appliance retailers concentrated in Central, Eastern, and Southern Europe. Competes with CECONOMY in markets like Austria, Hungary, and Italy but does not directly overlap in Germany or the Benelux.

Broad incumbents

• Best Buy: Largest US-based specialty consumer electronics retailer operating big-box stores, online, and Geek Squad services. Not a direct geographic competitor but the closest large-format CE specialist peer globally, with a comparable omnichannel and services-and-solutions strategy that anchors CECONOMY's strategic roadmap.
• Amazon: Global e-commerce incumbent and the dominant online competitor in European consumer electronics. Sets the price and selection benchmark that CECONOMY's online, marketplace, and Retail Media businesses must compete against, and increasingly captures the category share CECONOMY loses from physical stores.
• Otto Group: German-headquartered multichannel retail and services conglomerate operating Otto, Bonprix, Witt Weiden, and several electronics and home categories. A broader retail incumbent rather than a pure CE specialist, but competes directly in German CE online retail and benefits from similar scale, marketplace, and omnichannel dynamics.

Emerging players

• Notebooksbilliger.de: Germany-focused online consumer electronics and computer retailer with a growing physical store presence. Smaller and more specialized than CECONOMY but exemplifies the digital-native, price-aggressive CE retail format that has been taking share from incumbent big-box operators in the German market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/MediaSaturnGroup
• Facebookfacebook.com/mediamarktsaturn
• LinkedInlinkedin.com/company/ceconomy
• Instagraminstagram.com/mediamarktsaturn
• TikToktiktok.com/@mediamarktsaturn

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries5 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CECONOMY