NAY became just after its establishment the Slovak distributor of world brand electronics such as Sony or Panasonic. Since that time there was no developed retail network to which it was possible to distribute branded electronics, the company came up with the idea of opening stores in urban centers under the brand NAY, which would be operated by local entrepreneurs. The concept, which is now in Slovakia known as franchising, had no tradition in the early 90s of last century. By 1997, the company opened 12 small-format stores in Slovakia and Moravia this way. These stores are still vividly remembered by consumers, for example the famous store on Dunajská street in Bratislava, which was well known for very long queues as the demand was so great. NAY brought to customers a high-end electronics, which Slovaks had ever known only from sporadic visits abroad, foreign television or catalogs.
The concept of large stores NAY Elektrodom
Another breakthrough year was 1998, when NAY created the first concept of large stores in Central Europe under the new brand NAY Elektrodom. The initial obstacle was that in the country did not exist shopping centers or other real estate projects, which offered sufficient area to rent, therefore the company had to find good areas, build their own buildings and take care of the infrastructure. The transition from the stable functioning concept in an entirely new concept, which was in the country an untried model with need of a large capital, was risky. However, the concept was based on a marketing idea to offer customers maximum choice of goods and services under one roof. The project was ultimately extremely successful; in 2005 were created 13 NAY Elektrodoms. From 2005 to 2013 there was a minority investor- Enterprise Investors, which helped to dynamical acceleration of network expansion of NAY Elektrodom and number of stores increased to 31.
Connection with the company Electro World
19. 5. 2014 NAY SpA announced that it has entered into an agreement with Dixons Retail plc on the sale of its operations Electro World in the Czech Republic and Slovakia. Four Slovak Electro World stores have been opened 19. 8. already as NAY Elektrodom retails, in the Czech Republic continues operation of all Electro World still under the brand Electro World.
Currently NAY SpA has 32 retails NAY Elektrodom in Slovakia and 18 Electro World stores in the Czech Republic.