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Best Buy Enlist Magic Johnson Enterprises
By Sentinel Staff Writer
Published March 13, 2008

Magic Johnson Enterprises, one of the nation’s leading companies dedicated to serving emerging, multicultural markets, has entered into a multi-year relationship with Best Buy Co., Inc. Through this strategic relationship, the consumer electronics retail giant hopes to strengthen its urban market presence and deepen relationships with multicultural customers. Announced a few days ago at an internal celebration at Best Buy headquarters in Minneapolis, MN, the alliance is another example of Magic Johnson Enterprises commitment to working with major corporations to bring first-rate products and services to key communities.

“Magic Johnson Enterprises is known for successfully staying rooted in communities because they understand those communities’ unique needs and personalities—the same strategy that is an integral piece of Best Buy’s customer-focused growth strategy. We believe their insights, combined with those of our own employees, will help us learn and apply fresh ideas to help grow our business,” said Herschel Herndon, Vice President, Multicultural Relations for Best Buy.

“Best Buy is opening more stores in highly populated, racially and ethnically diverse locations, and their company is committed to growing the business by better understanding the needs of local communities,” said Earvin “Magic” Johnson, Chairman and CEO of Magic Johnson Enterprises. “Best Buy understands that it’s about more than just customers, they also know it’s about creating jobs and responding to community needs.”

Magic Johnson Enterprises has a long-standing history of working with major retailers on issues related to diversity and the multicultural consumer such as Starbucks, Burger King, NASCAR, Washington Mutual, Cadbury Schweppes, Lincoln, T.G.I. Fridays and 24 Hour Fitness. Magic Johnson Enterprises also recently announced an alliance with Aetna to similarly target ethnically diverse communities to encourage them to make informed choices about their health care options.

Categories: News (Business)

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