MCM Worldwide is a luxury fashion brand originally founded in 1976 as the initialism of "Michael Cromer Munich". The brand’s signature logo-printed material, called Cognac Visetos, appears on many of its products. Its brass plate insignia is found on all heritage collection bags and most products; each brass plate is identified by a unique number at the bottom.[1] MCM sells its products through wholesale accounts, franchises and directly operated stores. The brand was bought out by Sungjoo Group of Korea in 2005.
The MCM label, originally stood popular during the 1980s for being "ostentatious and flashy".[2] At the height of its popularity in 1993, it owned 250 branches worldwide and recorded sales of $250 million.[2] Following a 1995 investigation of Cromer for alleged tax evasion by German tax authorities, banks and investors lost faith in MCM's financial stability.[3] In 1997, the company was restructured, and its stores and trademark rights were split and sold.[3]
In 2005, the worldwide rights to the MCM brand were acquired from a Swiss financier by Sungjoo Group, a South Korean retail business founded by Sung-Joo Kim, the youngest daughter of South Korean magnate Kim Soo-Keon.[4] At the time, MCM's global sales stood at $100 million.[5] Kim hired designer Michael Michalsky[6] and re-launched the brand in 2006 with a new store in Berlin.[7] MCM thereafter reopened stores in New York, Toronto, Paris, London, Singapore, Tokyo, and China among others. In 2011, MCM debuted its largest store in Hong Kong’s Entertainment Building.[8]
MCM makes roughly 70% of its sales in Asia, and roughly 30% in Europe, the Middle East, and the Americas.[4] The brand aimed to have sales of $2 billion by 2019.[4]
^ abRamirez, Elva (March 12, 2010). "MCM's Eastern Makeover". Wall Street Journal. Retrieved 27 July 2014.
^ abElendt, Von Gerd; Jochen Siemens (July 20, 2007). "Der Fall des Michael Cromer" (in German). Stern. Retrieved 27 July 2014.
^ abcbusinessoffashion.com MCM Aims For $2 Billion Sales in Five Years APRIL 22, 2016
^Hannah Marriott (19 August 2014), The world in a bag: the rise of MCM The Guardian.
^Hannah Marriott (19 August 2014), The world in a bag: the rise of MCM The Guardian.
^Moodie Report, MCM reaches for the stars on global stage 10/11/06
^Moodie Report, MCM inaugurates Hong Kong flagship in the glittering ceremony
External links
Wikimedia Commons has media related to MCM Modern Creation Munich.
Official website
April 14, 2023
worldwide, luxury, fashion, brand, originally, founded, 1976, initialism, michael, cromer, munich, brand, signature, logo, printed, material, called, cognac, visetos, appears, many, products, brass, plate, insignia, found, heritage, collection, bags, most, pro. MCM Worldwide is a luxury fashion brand originally founded in 1976 as the initialism of Michael Cromer Munich The brand s signature logo printed material called Cognac Visetos appears on many of its products Its brass plate insignia is found on all heritage collection bags and most products each brass plate is identified by a unique number at the bottom 1 MCM sells its products through wholesale accounts franchises and directly operated stores The brand was bought out by Sungjoo Group of Korea in 2005 MCM WorldwideIndustryFashionFounded1976 47 years ago 1976 Munich GermanyFounderMichael CromerHeadquartersMunich GermanyKey peopleKim Sung joo Chairwoman ParentSungjoo GroupWebsitewww wbr mcmworldwide wbr com Contents 1 History 2 Gallery 3 References 4 External linksHistory EditThe MCM label originally stood popular during the 1980s for being ostentatious and flashy 2 At the height of its popularity in 1993 it owned 250 branches worldwide and recorded sales of 250 million 2 Following a 1995 investigation of Cromer for alleged tax evasion by German tax authorities banks and investors lost faith in MCM s financial stability 3 In 1997 the company was restructured and its stores and trademark rights were split and sold 3 In 2005 the worldwide rights to the MCM brand were acquired from a Swiss financier by Sungjoo Group a South Korean retail business founded by Sung Joo Kim the youngest daughter of South Korean magnate Kim Soo Keon 4 At the time MCM s global sales stood at 100 million 5 Kim hired designer Michael Michalsky 6 and re launched the brand in 2006 with a new store in Berlin 7 MCM thereafter reopened stores in New York Toronto Paris London Singapore Tokyo and China among others In 2011 MCM debuted its largest store in Hong Kong s Entertainment Building 8 MCM makes roughly 70 of its sales in Asia and roughly 30 in Europe the Middle East and the Americas 4 The brand aimed to have sales of 2 billion by 2019 4 Gallery Edit MCM Store in Berlin MCM Heritage Cognac Visitors Travel Collection MCM Stark Backpack in Cognac VisetosReferences Edit mcmworldwide com Brand identity a b Ramirez Elva March 12 2010 MCM s Eastern Makeover Wall Street Journal Retrieved 27 July 2014 a b Elendt Von Gerd Jochen Siemens July 20 2007 Der Fall des Michael Cromer in German Stern Retrieved 27 July 2014 a b c businessoffashion com MCM Aims For 2 Billion Sales in Five Years APRIL 22 2016 Hannah Marriott 19 August 2014 The world in a bag the rise of MCM The Guardian Hannah Marriott 19 August 2014 The world in a bag the rise of MCM The Guardian Moodie Report MCM reaches for the stars on global stage 10 11 06 Moodie Report MCM inaugurates Hong Kong flagship in the glittering ceremonyExternal links Edit Wikimedia Commons has media related to MCM Modern Creation Munich Official website Retrieved from https en wikipedia org w index php title MCM Worldwide amp oldid 1144512883, wikipedia, wiki, book, books, library,
