Best Buy Europe

Best Buy Europe Distributions Ltd. was a retail joint venture owned by the United States based electronics retailer Best Buy Inc and United Kingdom based mobile phone retailer Carphone Warehouse. The company was formed by Best Buy's purchase of 50% of The Carphone Warehouse's retail division in May 2008. Best Buy branded superstores opened in the United Kingdom beginning on April 30, 2010, with a store in Thurrock, Essex. Best Buy was due to open its first stores in the United Kingdom in 2009, but in March 2009, the firm postponed this until 2010, with plans for up to two hundred stores eventually. Carphone originally intended to open up to two hundred Big Box stores in Europe by 2013, but this goal was reduced to one hundred. On November 6 2011, Carphone Warehouse announced its intention to close the eleven Best Buy "big box" format stores. On 14 January 2012, the Best Buy Europe joint venture was discontinued, with all eleven stores and the transactional website (www.bestbuy.co.uk) closing on that day. Best Buy Co., Inc. is a Fortune 100 company, and the largest speciality retailer of consumer electronics in the United States and Canada, accounting for 21% of the market. The company's subsidiaries include Geek Squad, Magnolia Audio Video, and Pacific Sales; in Canada the Best Buy Canada subsidiary also operated under the Future Shop label until 2015. Together, these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China, Mexico and Turkey. The company's corporate headquarters are located in Richfield, Minnesota, United States (near Minneapolis). On June 26, 2007, Best Buy announced a 40% increase in its operations, with plans to operate more than 1,800 stores worldwide, including 1,400 Best Buy stores in the United States. The Carphone Warehouse was co founded in 1989, when most portable phones were too bulky to carry and called car phones, by then CEO Charles Dunstone (together with David Ross) from £6,000 savings.