M.Video Launch


Founders of the Company – Alexander Tynkovan and Pavel Breev – opened the first M.Video store in Moscow and registered M.Video trademark.

Development of the Business


In 2000, the first internet store www.mvideo.ru was launched. M.Video implemented promotional and customer loyalty programs and launched a professional development system for its employees. M.Video became one of the first retailers offering in-store consumer loans to customers. M.Video opened its first store in regional Russia.

Restructuring and preparation for Expansion


M.Video opened its first consumer electronics hypermarket of 2,000 sqm selling space. The unified selling area format was designed in collaboration with international consultants. The Company opened its first 24-hours store. A new internship educational program started to promote talented employees to store manager positions.

Growth and Expansion


The Company opened 28 new stores and entered 11 new cities. Specifically, it opened 3 new stores in Moscow, 4 in Saint Petersburg, 2 in each of Ryazan and Ekaterinburg, and 1 in each of Voronezh, Vladimir, Chelyabinsk, Samara, Rostov-on-Don, Nizhny Novgorod, Volgograd, Tambov, Stavropol, Tyumen, Togliatti, Magnitogorsk, Bryansk, Novosibirsk, Kazan and Naberezhnye Chelny. 16 of these new stores in 10 cities are open 24-hours.

In November 2006, the Company issued a debut RUB 2 billion bond paid off in November 2007.


In November 2007, M.Video became the first and the only domestic consumer electronics retailer that made an IPO on the major Russian stock exchanges RTS and MICEX. The Company placed almost 30% of its share capital among Russian and international investors.

In 2007, M.VIDEO opened 37 new brand name stores. By the end of the year, the Company operated 122 stores in 48 regions of Russian Federation.


Year 2008 was successful for M.Video, anchored by sales growth in the existing store network and supported by the execution of the effective expansion strategy.

The company opened 37 stores. In 2008, M.Video increased sales by 41%, while the company’s like-for-like sales grew up by 11% year-on-year.

The company’s revenues, gross margin, EBITDA and net profit all improved significantly from 2007. M.Video clearly demonstrated the efficiency of its business model, and high brand awareness and loyalty amongst customers. That allowed the company to become the fastest growing consumer electronics retailer in Russia.

In 2008, M.Video earned a prestigious national “Sales Business Award” in a “Consumer Electronics” category.


In 2009, M.Video became the only nationwide consumer electronics retailer, who showed positive performance and sales growth. While the market lost more than 30% of its value as compared to the previous year, M.Video sales growth was more than 3%.

The Company was strongly committed to expansion in the Russian market in 2009. While many of the consumer electronics networks closed stores and experienced financing difficulties during the year, M.Video opened 22 stores and continued to roll out its successful store format to the regions of Russia.

The breakthrough performance of 2009 allowed M.Video to double its market share in both national competition and in specialized networks segment.

The effective balance sheet and working capital management made it possible for M.Video to achieve more than RUB 6 billion net cash position at the end of 2009, as compared to the net debt the year before.



In 2010, M.Video became the number one CE retailer in Russia by revenue. The Company demonstrated the highest top line growth in the industry. The Company’s annual sales (with VAT) exceeded 100 billion Russian Rubles due to the most aggressive organic growth program in the Company’s history: record 44 stores were opened in 2010.

2011 – 2015

M.Video became the first retail chain who implemented OMNI-channel business model, offering its customers a unified assortment, service and price both in stores and online.

M.Video chain includes 300 stores, and the Company strengthens its leadership in consumer electronic market.  In 2016, M.Video took 16% market share.


M.Video implements new solutions to maintain high level of customer service, business efficiency and profitability in spite of the external macroeconomic factors. M.Video launched  m_mobile shop-in-shop aimed to promote sales of smartphones and digital products, as well as attached accessories and services. The Company also migrated into a new, broker based, consumer loans model.

The Company develops new strategic categories, and, in spite of tough competition, doubles its market share in telecomm segment over the last two years, enjoying customer loyalty and taking a sound market position.


SAFMAR Group acquired 57.7% of PJSC “M.video” from Alexander Tynkovan and co-owners, and, in accordance with the best corporate governance practice, made a voluntary tender offer to minority shareholders at the price of the acquisition. M.Video became a part of SAFMAR Group, one of Russia’s largest holdings managing industrial, financial, development, commercial real estate, and retail assets, owned by Mikhail Gutseriev.

As a result of the transactions, PJSC “M.video” remained public with c. 42% free-float. The Company is listed on MOEX and continues to adhere the high standards of corporate governance.


A deal is completed to acquire 100% of Eldorado LLC for RUB 45.5 billion (excluding net debt), and work begins to integrate M.Video–Eldorado into a unified business based on two of the leading brands in household appliances and electronics retail. As a result of this landmark deal, the Russian market sees the emergence of a player with a presence in all customer segments, and the Group becomes one of the top 10 publicly traded electronics retailers globally.


The Group continues consolidating the market, completing a deal to acquire the Russian business of MediaMarktSaturn – 42 stores in 22 Russian cities. Acquired stores were rebranded into 46 M.Video and Eldorado stores. MediaMarktSaturn acquires a 15% stake in PJSC M.Video from the SAFMAR Group.


A new strategy is developed for the Group’s two brands. Eldorado’s business model is restarted, which includes a transition to an omni-channel model, an increased focus on digital products, a brand update and the launch of a new format called Eldorado 600.


M.Video-Eldorado Group announced the transition from an omnichannel model to ONE RETAIL – a concept designed to strengthen the Group’s leadership in a new reality, where online trading is at the forefront. It involves individual offers, a unique format of online customer check-in at stores, and a unified customer experience across all channels. Data analytics and clients’ personalization, both online and offline, became instrumental in the Group’s business development.



The Group successfully completed the legal and IT integration of M.Video and Eldorado, thus building a strong foundation for further enhancement of business processes and operating efficiency. As a result, the Company ranks 3rd on EBITDA margin among public consumer electronics retailers globally.


The Group paid RUB 6.0 billion dividends based on the results of the successful integration of M.Video and Eldorado in 2018-2019.


Information is valid for 12:36 30.05.2020