Best Buy is an American multinational consumer electronics retailer headquartered in the United States. It was originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music. The company was later rebranded under its current name with a focus on consumer electronics in 1983. Best Buy operates internationally in Canada and previously in China, Europe, and Mexico. It is the largest specialty retailer in the United States retail industry and ranked number 72 in the Fortune 500 list of the largest United States corporations by total revenue. Best Buy operates various subsidiaries, including Geek Squad tech repair, Magnolia Audio Video, and Five Star in China. The company sells cellular phones from various carriers in the United States and Canada. Best Buy's executive chairman is Hubert Joly, who succeeded Richard Schulze as CEO in June 2019.
