Stockmann

Image:Stockmann department store1.jpg]]

File:Centro comercial Stockmann, Helsinki, Finlandia, 2012-08-14, DD 01.JPG façade of the flagship store]]

File:UV Stockmann Rīgā, 2025.jpg, Latvia]]

File:Stockmann joulu 2014.jpg

File:Argoksen valopiha, Stockmann 2013.jpg

Stockmann was established by Georg Franz Stockmann, a merchant from Lübeck, Germany who took a job as a bookkeeper at a Nuutajärvi Glassworks store in Helsinki Senate Square. 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 ({{langx|sv|Akademiska bokhandeln}}, the Academic Bookstore). The first television transmission in Finland was broadcast from the department store in 1950.

In the 1950s, Stockmann opened a department store in Tampere. Stockmann opened department stores in Tapiola in 1981 and Turku in 1982. In 1986, the first {{Lang|fi|Hullut Päivät}} ({{literal translation|crazy days}}) sales were held. The sales proved extremely popular and became a biannual event. The first Stockmann stores outside of Finland opened in Moscow in 1989, and in Tallinn in 1993. The northernmost department store, in Oulu, opened in 2001 and closed in 2017.{{cite news | url=https://yle.fi/uutiset/3-9432887 | title=Yksi aikakausi päättyi, kun Stockmann sulki ovensa Oulussa | work=TV Finland | date=January 31, 2017 | language=fi}}

In 1989, Stockmann began operations in Russia, with the opening of a small stand in the GUM department store in Moscow.{{cite book | url=https://books.google.com/books?id=NJabBAAAQBAJ&pg=PA192 | title=Retailing in Emerging Markets: A policy and strategy perspective | first1=Malobi | last1=Mukherjee | first2=Richard | last2=Cuthbertson | first3=Elizabeth | last3=Howard | publisher=Routledge | date=September 25, 2014}}

In December 2007, Stockmann acquired Lindex, a Swedish clothing retailer with 331 outlets in the Nordic region and the Baltic states.{{cite press release | url=http://www.stockmanngroup.com/en/news-releases/-/stock/showDisclosure?_omxdisplay_WAR_omxdisplayportlet_disclosureId=246928 | title=STOCKMANN RECEIVED 96.4 PER CENT OF THE SHARES IN LINDEX AND COMPLETES ITS PUBLIC TENDER OFFER | publisher=Stockmann | date=3 December 2007}}

Stockmann sold Seppälä on 1 April 2015 to Seppälä's CEO Eveliina Melentjeff and her husband Timo Melentjeff.{{cite news | url=http://www.helsinkitimes.fi/business/14976-seppaelae-on-brink-of-bankruptcy-270-jobs-at-risk.html | title=Seppälä on brink of bankruptcy, 270 jobs at risk | work=Helsinki Times | date=22 August 2017}}

In September 2015, Stockmann sold The Academic Bookstore to Bonnier Books AB media.{{cite press release | url=http://www.stockmanngroup.com/en/news-releases/-/stock/showDisclosure/635567/Stockmann+has+completed+the+Academic+Bookstore+transaction | title=Stockmann has completed the Academic Bookstore transaction | publisher=Stockmann | date=September 30, 2015}}

In February 2016, Stockmann sold its operations in Russia to Reviva Holdings. Stockmann continued to own and operate Nevsky Centre in Saint Petersburg until it was sold in January 2019.{{cite press release | url=http://www.stockmanngroup.com/en/news-releases/-/stock/showDisclosure?_omxdisplay_WAR_omxdisplayportlet_disclosureId=636123 | title=Stockmann has sold the Nevsky Centre property in St. Petersburg | publisher=Stockmann | date=January 24, 2019}}{{cite news | url=https://yle.fi/uutiset/3-10613151 | title=Stockmann lähtee lopullisesti Venäjältä – myy Pietarin kiinteistön pois | work=TV Finland | date=January 24, 2019 | language=fi}}{{cite news | url=https://www.reuters.com/finance/stocks/STCBV.HE/key-developments/article/3969056 | title=Stockmann Has Sold The Nevsky Centre Property In St. Petersburg | work=Reuters | date=January 24, 2019}}

On January 1, 2017, Stockmann sold Hobby Hall to SGN Group.{{cite press release | url=http://www.stockmanngroup.com/en/news-releases/-/stock/showDisclosure/635792/Stockmann%20has%20completed%20the%20divestment%20of%20Hobby%20Hall | title=Stockmann has completed the divestment of Hobby Hall | publisher=Stockmann | date=January 2, 2017}}

In 2017, the company sold its food division, Stockmann Herkku, to S Group for €27 million.{{cite news | url=https://yle.fi/uutiset/osasto/news/competition_authority_oks_sale_of_stockmannsupscale_delicatessen_stores/9979795 | title=Competition authority OKs sale of Stockmann's upscale delicatessen stores | work=TV Finland | date=December 15, 2017}}{{cite news | url=https://yle.fi/uutiset/3-9698486 | title=Stockmann myy Herkun S-ryhmälle 27 miljoonalla | work=TV Finland | date=June 30, 2017 | language=fi}}

In May 2018, the company sold Kirjatalo, the building opposite their flagship store in Helsinki which houses the Academic Bookstore, for €108 million.{{cite news | url=https://yle.fi/uutiset/3-10198115 | title=Stockmann myy Kirjatalo-kiinteistönsä Helsingin keskustasta | work=TV Finland | date=May 9, 2018 | language=fi}}

In March 2019, CEO Lauri Veijalainen resigned.{{cite news | url=https://yle.fi/uutiset/3-10701636 | title=Stockmannin toimitusjohtaja vaihtuu | work=TV Finland | date=March 22, 2019 | language=fi}}{{cite news | url=https://uk.reuters.com/article/stockmann-ceo/ceo-of-finnish-retailer-stockmann-to-leave-at-end-of-march-idUKL8N2191A9 | archive-url=https://web.archive.org/web/20190621212053/https://uk.reuters.com/article/stockmann-ceo/ceo-of-finnish-retailer-stockmann-to-leave-at-end-of-march-idUKL8N2191A9 | url-status=dead | archive-date=June 21, 2019 | title=CEO of Finnish retailer Stockmann to leave at end of March | first=Tarmo | last=Virki | work=Reuters | date=March 22, 2019}}

In June 2019, the company announced 150 layoffs.{{cite news | url=https://www.reuters.com/finance/stocks/STCBV.HE/key-developments/article/4049632 | title=Stockmann Completes Codetermination Negotiations, Terminates Around 150 Positions | work=Reuters | date=June 13, 2019}}

In April 2020, Stockmann applied for corporate restructuring due to the COVID-19 pandemic in Finland.https://yle.fi/a/3-11293650 Its restructuring plan took effect in December 2020 over an eight-year period.https://www.hs.fi/talous/art-2000007680582.html

• Helsinki City Center, Stockmann's oldest and largest flagship store
• Itis shopping centre, Helsinki
• Jumbo shopping centre, Vantaa
• Ainoa shopping centre, Espoo
• Tampere
• Turku, in Hansa shopping centre

• Tallinn, Estonia
• Riga, Latvia

File:Stockmann St. Petersburg.jpg

• Saint Petersburg, Russia
• Moscow, Russia
• Kazan, Russia
• Yekaterinburg, Russia
• Krasnodar, Russia

In January 2022, Sberbank 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".{{Cite web|url=https://www.interfax.ru/business/818470|title=Сбербанк планирует купить российскую сеть Стокманн|language=ru|date=2022-01-26|publisher=Интерфакс}}

{{Reflist}}

• {{Official website|http://www.stockmanngroup.fi/en/en/}}
• [https://www.porssikurssit.fi/osake/STOCKA.HE Stockmann Share]

{{Nasdaq Helsinki}}

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Category:Companies based in Helsinki

Category:Companies listed on Nasdaq Helsinki

Category:Retail companies established in 1862

Category:Department stores of Finland

Category:1862 establishments in Finland

Category:Finnish brands