HEMA (store)

HEMA (; originally an acronym for ''Hollandsche Eenheidsprijzen Maatschappij Amsterdam'', "Standard Price Company of Holland, Amsterdam"), is a Dutch variety chain store. The chain is characterized by relatively low pricing of generic household goods, which are mostly made by and for the chain itself, often with an original design. The owner is Dutch billionaire Marcel Boekhoorn, who has lost control to bondholders.

History

The first HEMA opened in Amsterdam 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, a number of Jewish employees (there was a relatively high number because of the Jewish roots of the company) were murdered by the Nazis during the Holocaust. 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, the standard pricing model could not be sustained and was abandoned. A period of rapid expansion followed. Locations carry a wide variety of goods, including clothing, food, bicycle equipment, gardening tools, and office supplies.

Ownership changes

21st century

In 2010, under Lion Capital ownership, standard pricing was reintroduced.

In 2015, Hema was the most indispensable brand in the Netherlands for the 8th time running.

In 2020, Hema's proprietors placed the potential sale of the business on their agenda. Flacks Group, an investment company based in Miami, Florida, 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 and Parcom Capital commenced in October 2020. This was expected to put a stop to activities outside Europe.

The company announced in July 2021 that it would withdraw completely from the UK market by closing its six stores there. Under the leadership of its new ceo, Egas Reparaz, the company would focus more on its core markets of the Netherlands, Belgium, Luxembourg and France. With this renewed focus on core markets, the company also decided to withdraw from Spain and close its stores there during 2022. Two other countries in which it was active in 2021, Germany and Austria, were seen as potential growth markets and would be explored further. Some collaborations in other countries were respected, but not further developed. On November 24, 2021, it was announced that HEMA would sell its bakeries to Bacu, which already baked for Jumbo and would do the same for HEMA.

Branches

HEMA has also expanded into other countries since the 1990s.

HEMA branches by country:

On 4 January 2014, Hema's CEO Ronald van Zetten announced that it would branch out to Spain and the United Kingdom opening the first stores within six months as well further expanding in France. The first Spanish store opened on 3 April on Calle Fuencarral in Madrid. The first British store opened in the Victoria Place shopping centre, above Victoria station, in London on 12 June 2014, and six more followed. By the summer of 2021, all had been closed. All stores in Spain closed in 2022.

References

External links

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Department stores of the Netherlands
Privately held companies of the Netherlands
Retail companies of the Netherlands
Retail companies established in 1926
Discount stores of the Netherlands
Dutch brands
2007 mergers and acquisitions
2018 mergers and acquisitions
Variety stores
Companies that have filed for Chapter 15 bankruptcy
Companies formerly owned by Maxeda
Companies owned by Marcel Boekhoorn