Rice Cooker Maker Signs Deal with Russian Retailer

Cuckoo Electronics has signed a deal to sell its electric pressure rice cooker at all stores belonging to Media Markt, the largest consumer electronics retailer in Russia, the company said on Thursday.

Since entering the Russian market in 2003, Cuckoo has sold the product as a multi-purpose cooker to make various dishes.

The home electronics maker had just 14 shops at Media Markt stores last year. It increased the number to 60 nationwide before inking the new deal, which will give it a presence at every outlet.

"We posted sales of US$15 million by selling rice cookers in Russia last year," said CEO Koo Bon-hak.

englishnews@chosun.com / Mar. 21, 2014 08:58 KST