MCM Worldwide is a luxury

fashion Fashion is a form of self-expression and autonomy at a particular period and place and in a specific context, of clothing, footwear, lifestyle, accessories, makeup, hairstyle, and body posture. The term implies a look defined by the fashion in ...

brand originally founded in 1976 as the initialism of "Michael Cromer Munich". The brand’s signature

logo A logo (abbreviation of logotype; ) is a graphic mark, emblem, or symbol used to aid and promote public identification and recognition. It may be of an abstract or figurative design or include the text of the name it represents as in a wordma ...

-printed material, called Cognac Visetos, appears on many of its products. Its

brass Brass is an alloy of copper (Cu) and zinc (Zn), in proportions which can be varied to achieve different mechanical, electrical, and chemical properties. It is a substitutional alloy: atoms of the two constituents may replace each other with ...

plate insignia is found on all heritage collection bags and most products; each brass plate is identified by a unique number at the bottom. MCM sells its products through wholesale accounts, franchises and directly operated stores. The brand was bought out by Sungjoo Group of Korea in 2005.

History

The MCM label, originally stood popular during the 1980s for being "ostentatious and flashy". At the height of its popularity in 1993, it owned 250 branches worldwide and recorded sales of $250 million. Following a 1995 investigation of Cromer for alleged

tax evasion Tax evasion is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxp ...

by German tax authorities, banks and investors lost faith in MCM's financial stability. In 1997, the company was restructured, and its stores and trademark rights were split and sold. In 2005, the worldwide rights to the MCM brand were acquired from a Swiss financier by Sungjoo Group, a

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

n retail business founded by Sung-Joo Kim, the youngest daughter of South Korean magnate Kim Soo-Keon.businessoffashion.co
MCM Aims For $2 Billion Sales in Five Years
APRIL 22, 2016 At the time, MCM's global sales stood at $100 million. Kim hired designer

Michael Michalsky Michael Michalsky (born 23 February 1967) is a German fashion designer. He is the founder and head designer of the fashion label ''Michalsky''. He is also the creative director of the luxury handbag manufacturer MCM since 2005. Besides his fash ...

and re-launched the brand in 2006 with a new store in

Berlin Berlin ( , ) is the capital and largest city of Germany by both area and population. Its 3.7 million inhabitants make it the European Union's most populous city, according to population within city limits. One of Germany's sixteen constitue ...

. 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 Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

’s

Entertainment Building Entertainment Building () is an office building in Central, Hong Kong Island, Hong Kong. The neo-gothic architecture and height of the building make it distinctive amongst the office buildings nearby. The building stands at 30 Queen's Road Centra ...

.Moodie Report
MCM inaugurates Hong Kong flagship in the glittering ceremony
/ref> MCM makes roughly 70% of its sales in Asia, and roughly 30% in Europe, the Middle East, and the Americas. The brand aimed to have sales of $2 billion by 2019.

Gallery

File:MCM Store, Berlin, Germany.jpg, MCM Store in Berlin File:MCM Heritage Cognac Visetos Travel Collection.jpg, MCM Heritage Cognac Visitors Travel Collection File:MCM Stark Backpack in Cognac Visetos.jpg, MCM Stark Backpack in Cognac Visetos

References

External links

* {{Authority control Luggage brands Luggage manufacturers Luxury brands Design companies established in 1976 Manufacturing companies established in 1976 German brands High fashion brands Fashion accessory brands Retail companies of South Korea Eyewear brands of Germany