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Best Buy, Inc. (NYSE: BBY) is looking to expand faster and more furiously than previously thought in the United Kingdom. Best Buy, which joined up with Britain's Carphone Warehouse in a 50% ownership venture earlier this year, wants to take England by storm and is wasting little time in the effort.
The largest consumer electronics chain in the U.S. said that it would eventually roll out more than 200 stores in the UK over the long term, which is quite a bit more than had been expected. Best Buy wants to dominate that market just as it has conquered the U.S. market, and an aggressive international expansion like this cements Best Buy's goal of becoming a global retail player in consumer electronics.
But some are concerned that Best Buy's $2.1 billion chunk of Carphone Warehouse -- which is 50% of the company -- may be used to expand the Best Buy brand at the expense of the Carphone Warehouse brand. Best Buy wanted an immediate presence in the UK market by partnering with a leader there, and now it has that.
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