Stockmann plc is a Finnish

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and ...

er established in 1862. Stockmann's eight company-owned department stores are in

Finland Finland ( fi, Suomi ; sv, Finland ), officially the Republic of Finland (; ), is a Nordic country in Northern Europe. It shares land borders with Sweden to the northwest, Norway to the north, and Russia to the east, with the Gulf of B ...

(six),

Estonia Estonia, formally the Republic of Estonia, is a country by the Baltic Sea in Northern Europe. It is bordered to the north by the Gulf of Finland across from Finland, to the west by the sea across from Sweden, to the south by Latvia, a ...

(one), and Latvia (one). There also was an additional nine Stockmann-branded department stores in

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eig ...

owned and operated by Reviva Holdings, with a license to use the Stockmann name until 2023. The Stockmann, Helsinki centre flagship store covers of retail space and welcomes more than 17 million visitors every year. It is the largest department store in the Nordic countries. Stockmann owns and manages five shopping malls with of gross leasable area, of which half is occupied by Stockmann.

Lindex Lindex is a Swedish fashion chain within the Finnish Stockmann Group. The company has around 5000 employees and approximately 480 stores in 18 markets in the Nordic countries, the Baltic States, Central Europe and the Middle East. In additio ...

, owned by Stockmann, has 475 stores in 16 countries, including 39 franchised stores. Stockmann has been a member of the

International Association of Department Stores The International Association of Department Stores (IADS) is a retail trade association founded in 1928 by a group of department stores with the goal of introducing modern management methods derived from the scientific management movement to their ...

from 1950 to 2020, with various CEOs acting as presidents of the Association over time.

History

Stockmann was established by Georg Franz Stockmann, a merchant from

Lübeck Lübeck (; Low German also ), officially the Hanseatic City of Lübeck (german: Hansestadt Lübeck), is a city in Northern Germany. With around 217,000 inhabitants, Lübeck is the second-largest city on the German Baltic coast and in the state ...

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

who took a job as a bookkeeper at a Nuutajärvi Glassworks store in

Helsinki Senate Square The Senate Square ( fi, Senaatintori, sv, Senatstorget) presents Carl Ludvig Engel's architecture as a unique allegory of political, religious, scientific and commercial powers in the centre of Helsinki, Finland. Senate Square and its surrounding ...

. In 1859, Stockmann became the manager of the store. In 1862, Stockmann took control of the store and the Stockmann department store was officially established. In 1902, the company was renamed G.F. Stockmann Aktiebolag. The shareholders were Stockmann and his two sons, Karl and Frans. Stockmann died in 1906. In 1930, the Stockmann, Helsinki centre store was finished, complete with revolving doors, a soda fountain, and escalators. Also in 1930, Stockmann bought a neighbouring book store, Akateeminen kirjakauppa ( sv, Akademiska bokhandeln, the Academic Bookstore). The first

television Television, sometimes shortened to TV, is a telecommunication medium for transmitting moving images and sound. The term can refer to a television set, or the medium of television transmission. Television is a mass medium for advertisin ...

transmission in Finland was broadcast from the department store in 1950. In the 1950s, Stockmann opened a department store in

Tampere Tampere ( , , ; sv, Tammerfors, ) is a city in the Pirkanmaa region, located in the western part of Finland. Tampere is the most populous inland city in the Nordic countries. It has a population of 244,029; the urban area has a population o ...

. Stockmann opened department stores in

Tapiola Tapiola (; sv, ) is a district of the municipality of Espoo on the south coast of Finland, and is one of the major urban centres of Espoo. It is located in the western part of Greater Helsinki. The name ''Tapiola'' is derived from '' Tapio'', w ...

in 1981 and

Turku Turku ( ; ; sv, Åbo, ) is a city and former capital on the southwest coast of Finland at the mouth of the Aura River, in the region of Finland Proper (''Varsinais-Suomi'') and the former Turku and Pori Province (''Turun ja Porin lääni''; ...

in 1982. In 1986, the first () sales were held. The sales proved extremely popular and became a biannual event. The first Stockmann stores outside of Finland opened in

Moscow Moscow ( , US chiefly ; rus, links=no, Москва, r=Moskva, p=mɐskˈva, a=Москва.ogg) is the capital and largest city of Russia. The city stands on the Moskva River in Central Russia, with a population estimated at 13.0 millio ...

in 1989, and in

Tallinn Tallinn () is the most populous and capital city of Estonia. Situated on a bay in north Estonia, on the shore of the Gulf of Finland of the Baltic Sea, Tallinn has a population of 437,811 (as of 2022) and administratively lies in the Harju '' ...

in 1993. The northernmost department store, in Oulu, opened in 2001 and closed in 2017. In 1989, Stockmann began operations in Russia, with the opening of a small stand in the GUM department store in

. In December 2007, Stockmann acquired

, a Swedish clothing retailer with 331 outlets in the Nordic region and the Baltic states. Stockmann sold Seppälä on 1 April 2015 to Seppälä's CEO Eveliina Melentjeff and her husband Timo Melentjeff. In September 2015, Stockmann sold The Academic Bookstore to Bonnier Books AB media. In February 2016, Stockmann sold its operations in Russia to Reviva Holdings. Stockmann continued to own and operate Nevsky Centre in

Saint Petersburg Saint Petersburg ( rus, links=no, Санкт-Петербург, a=Ru-Sankt Peterburg Leningrad Petrograd Piter.ogg, r=Sankt-Peterburg, p=ˈsankt pʲɪtʲɪrˈburk), formerly known as Petrograd (1914–1924) and later Leningrad (1924–1991), i ...

until it was sold in January 2019. On January 1, 2017, Stockmann sold Hobby Hall to SGN Group. In 2017, the company sold its food division, Stockmann Herkku, to

S Group The S Group ( fi, S-ryhmä, sv, S-gruppen) is a Finnish retailing cooperative organisation with its head office in Helsinki. Founded in 1904, it consists of 20 regional cooperatives operating all around Finland in addition to SOK, ''Suomen Osu ...

for €27 million. In May 2018, the company sold Kirjatalo, the building opposite their flagship store in Helsinki which houses the Academic Bookstore, for €108 million. In March 2019, CEO Lauri Veijalainen resigned. In June 2019, the company announced 150 layoffs.

Locations

Finland

* Helsinki City Center, Stockmann's oldest and largest flagship store *

Itis shopping centre Itis (formerly Itäkeskus) is the second largest shopping centre in Finland, located in Itäkeskus in East Helsinki. It is located next to the Itäväylä motorway and the Itäkeskus metro station. The mall has been refurbished a number of times, ...

, Helsinki * Jumbo shopping centre,

Vantaa Vantaa (; sv, Vanda, ) is a city and municipality in Finland. It is part of the inner core of the Finnish Capital Region along with Helsinki, Espoo, and Kauniainen. With a population of (), Vantaa is the fourth most populated city in Finland ...

* Ainoa shopping centre,

Espoo Espoo (, ; sv, Esbo) is a city and municipality in the region of Uusimaa in the Republic of Finland. It is located on the northern shore of the Gulf of Finland, bordering the cities of Helsinki, Vantaa, Kirkkonummi, Vihti and Nurmijärvi ...

, in Hansa shopping centre

Estonia and Latvia

* Riga, Latvia

Russia (under license)

Kazan Kazan ( ; rus, Казань, p=kɐˈzanʲ; tt-Cyrl, Казан, ''Qazan'', IPA: ɑzan is the capital and largest city of the Republic of Tatarstan in Russia. The city lies at the confluence of the Volga and the Kazanka rivers, covering an ...

Yekaterinburg Yekaterinburg ( ; rus, Екатеринбург, p=jɪkətʲɪrʲɪnˈburk), alternatively romanized as Ekaterinburg and formerly known as Sverdlovsk ( rus, Свердло́вск, , svʲɪrˈdlofsk, 1924–1991), is a city and the administra ...

Krasnodar Krasnodar (; rus, Краснода́р, p=krəsnɐˈdar; ady, Краснодар), formerly Yekaterinodar (until 1920), is the largest city and the administrative centre of Krasnodar Krai, Russia. The city stands on the Kuban River in southe ...

In January 2022,

Sberbank PJSC Sberbank (russian: Сбербанк, initially a contraction of russian: сберегательный банк, translit=sberegatelnyy bank, lit=savings bank, link=no) is a Russian majority state-owned banking and financial services compa ...

and Yakov Panchenko, actual owner of Stockmann in Russia, announced the binding agreement for the purchase of 100% stake of Stockmann by the bank by June 2022. Presently, 100% of shares of Stockmann in Russia are hypothecated by "Sberbank".

References

External links

*
Stockmann Share
{{Authority control Companies based in Helsinki Companies listed on Nasdaq Helsinki Retail companies established in 1862 Department stores of Finland 1862 establishments in Finland Finnish brands