The shareholders of M.Video-Eldorado are investing 30 billion rubles in the implementation of the company's new strategy. This is stated in the company's message.
Felix Lieb, CEO of M.Video-Eldorado Group, said in a statement that the management of M.Video—Eldorado Group has developed and agreed with shareholders on a new strategy for the next three years. It involves the opening of new compact format stores in parallel with the closure of all unprofitable points of sale, an increase in online sales of up to 70%, expansion into new cities of presence and access to the markets of a number of CIS countries, the creation of STM equipment production facilities, both in-house and with partners from China and the Republic of Belarus. The company will undergo changes at all levels of corporate governance — in the board of directors and top management. The first payments from new shareholders in the amount of 11.5 billion rubles. The company has already received funds, and the total amount of investments in the company in March-April 2025 for the implementation of the group's long-term development strategy will amount to 30 billion rubles.
We remind you that the Board of Directors of PJSC M.Video" decided to appoint F.Liba has been appointed CEO of the group since February 21, 2025.
The M. Group.Video — Eldorado" (PJSC "M.Video") is a Russian company in the field of electronic commerce and retail of electronics and household appliances, uniting the brands "M.Video" and "El Dorado".
The net loss of the M. groupVideo — Eldorado" by the end of 2023, according to IFRS, decreased by 31% to 5.2 billion rubles (6.6 billion rubles under IFRS 16). General sales (GMV) of the M group.Video — Eldorado" in the first quarter of 2024 increased by 18% to 131 billion rubles.
