Media-Saturn is to create a portfolio of online pure-play companies and concepts under the name Electronics Online Group (EOG), with its existing online business Redcoon as the core. EOG will be led by Martin Smith, founder of Idealo, Germany’s leading comparison portal, who has been named as CEO.
The company said that, in addition to enhancing the organic growth of Redcoon, the objective of EOG is also to grow through acquisitions and new online concepts. Among other things, specialised web shops for new trends, such as wearables and other product groups will be launched. These additional pure-play concepts will each have their own positioning in terms of price, depth of the product range, services and lifestyle relevance and will therefore target different customer segments.