HEMA (; originally an

acronym An acronym is a word or name formed from the initial components of a longer name or phrase. Acronyms are usually formed from the initial letters of words, as in ''NATO'' (''North Atlantic Treaty Organization''), but sometimes use syllables, as ...

for ''Hollandsche Eenheidsprijzen Maatschappij Amsterdam'', "Hollandic Standard Prices Company Amsterdam"), is a Dutch variety store-chain. It began operations as a variety store. The chain is characterized by relatively low pricing of

generic Generic or generics may refer to: In business * Generic term, a common name used for a range or class of similar things not protected by trademark * Generic brand, a brand for a product that does not have an associated brand or trademark, other ...

household goods Household goods are goods and products used within households. They are the tangible and movable personal property placed in the rooms of a house, such as a bed or refrigerator. Economic role Businesses that produce household goods are categ ...

, which are mostly made by and for the chain itself, often with an original design. The current owner is Dutch billionaire

Marcel Boekhoorn Marcel Boekhoorn (; born 30 October 1959 in Nijmegen) is a Dutch entrepreneur, investor, philanthropist and owner of investment company Ramphastos Investments. Boekhoorn has a wide array of business interests in the Netherlands and beyond. With a ...

, but he has lost control to bondholders.

History

The first HEMA opened in

Amsterdam Amsterdam ( , , , lit. ''The Dam on the River Amstel'') is the capital and most populous city of the Netherlands, with The Hague being the seat of government. It has a population of 907,976 within the city proper, 1,558,755 in the urban ar ...

on 4 November 1926, set up by the owners of the luxury department store De Bijenkorf. Originally, as a price-point retailer at prime locations in town centres, goods were sold using standard prices (hence its name), with everything having a standard price of 10, 25 or 50 cents, and later also 75 and 100 cents. The relative economic boom in the Netherlands in the period 1900–1930 benefited HEMA. During

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the World War II by country, vast majority of the world's countries—including all of the great power ...

, a number of

Jewish Jews ( he, יְהוּדִים, , ) or Jewish people are an ethnoreligious group and nation originating from the Israelites Israelite origins and kingdom: "The first act in the long drama of Jewish history is the age of the Israelites""The ...

employees (there was a relatively high number because of the Jewish roots of the company) were murdered by the

Nazis Nazism ( ; german: Nazismus), the common name in English for National Socialism (german: Nationalsozialismus, ), is the far-right totalitarian political ideology and practices associated with Adolf Hitler and the Nazi Party (NSDAP) in N ...

. This is commemorated every year by laying a wreath on 4 May, the Dutch Remembrance of the Dead, at the head office. After World War II, this model could not be sustained and the standard pricing system was abandoned. But a period of rapid expansion followed: now almost every town of any importance in the Netherlands has a HEMA. Locations carry a wide variety of goods, including clothing, food, bicycle equipment, gardening tools, and office supplies. In June 2007 Lion Capital bought the chain from

Maxeda Maxeda is a Dutch retail company owned by American investment firm Kohlberg Kravis Roberts & Co. Activities Maxeda DIY Group is the market leader in the DIY segment and has 345 stores in the Benelux and more than 7,000 employees. Most stores h ...

. In 2010, standard pricing was reintroduced. In 2015, HEMA was the most indispensable brand in the Netherlands for the 8th time running. HEMA Hot Dog

In 2020, HEMA's proprietors placed the potential sale of the business on their agenda. An investment company based in Miami, Florida ( Flacks Group) and a consortium led by Amsterdam-based private equity firm Parcom Capital displayed the greatest interest in acquiring the chain. Exclusive negotiations with a 50/50 consortium of the

Van Eerd Group Jumbo is a supermarket chain in the Netherlands and Belgium. It is part of the privately owned Van Eerd Group. Van Eerd was originally a grocery wholesale company established in 1921. With 740 stores and a market share of about 22%, Jumbo is ...

and Parcom Capital commenced in October 2020. This was expected to put a stop to activities outside Europe.

Branches

HEMA has also expanded into other countries since the 1990s. HEMA branches by country: Since 2009 HEMA has opened small versions of their stores in railway stations, at Schiphol Airport and in small villages in the Netherlands, as well as their first mini market. HEMA employed in excess of 10,000 workers at over 500 stores by March 2011. HEMA opened its 700th store on 14 December 2015 at Central Station in

Utrecht Utrecht ( , , ) is the fourth-largest city and a municipality of the Netherlands, capital and most populous city of the province of Utrecht. It is located in the eastern corner of the Randstad conurbation, in the very centre of mainland Net ...

. It is also the tenth store of the retail chain on a Dutch railway station. On 4 January 2014, HEMA's CEO Ronald van Zetten announced that it would branch out to

Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = '' Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , ...

and the UK opening the first stores within six months as well further expanding in

France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...

. The first Spanish store opened on 3 April on Calle Fuencarral in

Madrid Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a metropolitan area population of approximately 6.7 million. It is the second-largest city in the European Union (EU), and ...

. The first British store opened in the Victoria Place shopping centre, above Victoria station, in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

on 12 June 2014, and six more followed, but by the summer of 2021, all had been closed.

References

External links

* * {{Authority control Department stores of the Netherlands Privately held companies of the Netherlands Retail companies of the Netherlands Retail companies established in 1926 Discount stores Dutch brands 2007 mergers and acquisitions 2018 mergers and acquisitions Variety stores Companies that filed for Chapter 11 bankruptcy in 2020