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The company was established on September 1, 1994 (when the company's first store was opened in Samara). At the beginning of 2005, a European company, a large retailer of household appliances and electronics Dixons Group plc., received the exclusive right to acquire a controlling stake in Eldorado until 2011. Under the terms of the option, the price of 100% of Eldorado shares was set at $1.9 billion. In June 2007, it became known that DSG International refused to execute the option agreement.
Since May 2005, the company has been developing its own network of cellular communication salons with the same name (480 Eldorado communication salons at the beginning of 2009). It was planned to increase the number of salons to 490 by the end of 2009, but due to financial difficulties, the entire network of cellular communication salons was sold to MTS.