Modern Creation Munich

MCM
Founded 1976
Founder Michael Cromer
Key people
 Sung-Joo Kim (Chairman)
Michael Michalsky (Creative Director)
Website www.mcmworldwide.com

MCM or Modern Creation München is a German brand of leather products founded in 1976 in Munich, Germany. The brand’s signature logo-printed material, called Cognac Visetos, appears on many of its products. MCM sells its products through wholesale accounts, franchises and directly-operated stores.

History

The MCM label, originally stood for Michael Cromer München, was founded by Michael Cromer in 1976 in Munich, Germany.[1] The company designed expensive leather suitcases and handbags which became popular during the 1980s for being "ostentatious and flashy."[1] At the height of its popularity in 1993, it owned 250 branches worldwide and recorded sales of $250 million.[1] Following a 1995 investigation of Cromer for alleged tax evasion by German tax authorities, banks and investors lost faith in MCM's financial stability.[2] In 1997, the company was restructured, and its stores and trademark rights were split and sold.[2]

In 2005, the worldwide rights to the MCM brand were acquired by Sungjoo Group, a South Korean retail business founded by Sung-Joo Kim. Kim re-launched the brand in 2006 with a new store in Berlin and appointed German designer Michael Michalsky as MCM’s creative director.[3] MCM thereafter reopened stores in New York, Paris, London, Singapore, Tokyo and China among others. In 2011, MCM debuted its largest store in Hong Kong’s Entertainment Building.[4]

References

  1. 1 2 3 Ramirez, Elva (March 12, 2010). "MCM's Eastern Makeover". Wall Street Journal. Retrieved 27 July 2014.
  2. 1 2 Elendt, Von Gerd; Jochen Siemens (July 20, 2007). "Der Fall des Michael Cromer" (in German). Stern. Retrieved 27 July 2014.
  3. ↑ Moodie Report, MCM reaches for the stars on global stage – 10/11/06
  4. ↑ Moodie Report, MCM inaugurates Hong Kong flagship in glittering ceremony

External links

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