JD.com and Ceconomy Buyout

JD.com Goes Western Electronics: Ceconomy Deal Could Quadruple Global eCommerce Share

JD.com is in talks to acquire German Electronics giant Ceconomy, parent company of MediaMarkt and Saturn. What would that mean for all parties involved?

Nadine Koutsou-Wehling

Data Journalist

July 24, 2025

Cross-Border eCommerce

JD.com want to buy Ceconomy

JD.com is in talks to take over German Electronics market leader Ceconomy, parent company to MediaMarkt and Saturn. Acquiring Ceconomy could move JD.com’s focus further towards international markets, which currently only account for a 0.5% share of JD.com’s portfolio.

Acquiring Ceconomy would mean JD.com quadruples its international eCommerce activity revenue share to 1.8%. This marks a significant move in a stagnant Chinese market environment where no dramatic growth potential awaits anymore. In addition, JD.com would cement its reach in the European Electronics retail market.

Using the extensive data resources available at ECDB, what would an acquisition mean for the parties involved?

Acquisition Effects: Ceconomy Gains Value, JD.com Grows Reach

News of the advanced negotiation were published this Thursday, 24th of July. Rumors have been circulating for some time now, but the acquisition is being hardened into a real possibility – a concrete offer is now making rounds: €4.6 per share, which marks an increase of 23% of Ceconomy’s current €3.75 share price.

An offer Ceconomy can’t refuse? Nothing is set in stone at the moment, meaning that shareholders and company officials can still decline the offer. The acquisition could benefit both involved parties, however: Ceconomy has seen immediate positive evaluation after news made the round. A good turnaround after stagnant revenue and competition from other retailers, especially online.

JD.com’s advantages are expanding beyond stagnant market conditions in China to take over Germany’s best-known Electronics brands MediaMarkt and Saturn.

China is expecting declining market growth until 2029, in an environment with saturated demand and intense competition. Diversifying its portfolio outside the home market to Europe would insulate JD.com from potential market losses. A takeover of Ceconomy would quadruple JD.com’s international eCommerce activity share from 0.5% to 1.8%.

Ceconomy Operates a Wide Physical and Online Store Network in European Electronics Retail

Ceconomy, better known for its two Electronics retail brands MediaMarkt and Saturn operating in 11 European markets, is experiencing fluctuating but overall stagnant revenues for some years now. Its biggest market is home country Germany, where 54% of eCommerce revenues are coming from.

In addition to eCommerce channels, however, Ceconomy operates a physical store network of over 1,000 stores in Europe. Other markets with strong online and offline presence include Spain, the Netherlands and Italy with over US$500 million in eCommerce revenues in 2024.

Smaller markets for Ceconomy include Turkey, Austria, Belgium, Switzerland, Hungary, Poland and Portugal.

An acquisition of Ceconomy by JD.com would therefore not only position the Chinese eCommerce retailer in the very midst of well-recognized German Electronics retail, but provide it with a wider reach across Europe on top of that.

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