Editing Stockmann

{{Short description|Finnish retailer}}
{{See also|Stockmann (disambiguation)|Stockmann (surname)}}
{{expand Finnish|date=June 2023}}
{{Infobox company
| name = Stockmann plc
| logo = Stockmannin logo.jpeg
| image = Stockmann, Helsinki 2013.jpg
| image_caption = The flagship Stockmann department store in downtown [[Helsinki]], [[Finland]]
| trade_name = Stockmann
| native_name = Lindex Group Oyj
| type = [[Public company]]
| traded_as = {{OMX|HEX24363|STCBV}}
| ISIN = {{ISIN|sl=n|pl=y|FI0009000251}}
| industry = [[Retail]]
| founded = {{Start date and age|1862}} in [[Helsinki]], [[Finland]]
| founder = Heinrich Georg Franz Stockmann
| hq_location_city = [[Helsinki]]
| hq_location_country = [[Finland]]
| area_served = [[Finland]],[[Latvia]], <br> [[Estonia]]
| key_people = Susanne Ehnbåge<br><small>CEO</small>
| products = [[Department store]]
| brands = Stockmann, Stockmann Herkku, [[Lindex]], One Way
| num_employees = 9,734 (2016)
| website = {{URL|https://www.lindex-group.com/}}
}}

'''Stockmann plc''' is a Finnish [[retail]]er established in 1862.

Stockmann's eight company-owned department stores are in [[Finland]] (six), [[Estonia]] (one), and [[Latvia]] (one). There also were an additional nine Stockmann-branded department stores in [[Russia]] owned and operated by Reviva Holdings, with a license to use the Stockmann name until 2028.<ref>https://www.hs.fi/talous/art-2000009729103.html</ref>

The [[Stockmann, Helsinki centre]] flagship store covers {{convert|50000|m2}} 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 {{convert|142000|m2}} of gross leasable area, of which half is occupied by Stockmann.

[[Lindex]], 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]] from 1950 to 2020, with various CEOs acting as presidents of the Association over time.<ref>{{Cite web|title=IADS Presidents|url=https://www.iads.org/web/home-public/2303-iads-presidents.php|access-date=2021-04-22|website=www.iads.org}}</ref><ref>{{Cite web|title=News releases - www.stockmanngroup.com|url=http://www.stockmanngroup.com/en/news-releases/-/stock/showDisclosure/93093/STOCKMANN%2527S%20CEO%20HANNU%20PENTTIL%25C3%2584%20APPOINTED%20AS%20PRESIDENT%20OF%20THE%20INTERNATIONAL%20DEPARTMENT%20STORE%20ORGANIZA|access-date=2021-06-20|website=www.stockmanngroup.com}}</ref>

==History==
[[Image:Stockmann department store1.jpg|thumb|220px|left|Stockmann department store in [[Tampere]]]]
[[File:Centro comercial Stockmann, Helsinki, Finlandia, 2012-08-14, DD 01.JPG|thumb|left|The [[Art Nouveau]] façade of the flagship store]]
[[File:UV Stockmann Rīgā, 2025.jpg|left|thumb|Stockmann department store in [[Riga]], [[Latvia]]]]
[[File:Stockmann joulu 2014.jpg|thumb|Christmas at Stockmann]]
[[File:Argoksen valopiha, Stockmann 2013.jpg|thumb|180px|The dome of the store]]
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.<ref>{{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}}</ref>

In 1989, Stockmann began operations in Russia, with the opening of a small stand in the [[GUM (department store)|GUM department store]] in [[Moscow]].<ref>{{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}}</ref>

In December 2007, Stockmann acquired [[Lindex]], a Swedish clothing retailer with 331 outlets in the Nordic region and the [[Baltic states]].<ref>{{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}}</ref>

Stockmann sold Seppälä on 1 April 2015 to Seppälä's CEO Eveliina Melentjeff and her husband Timo Melentjeff.<ref>{{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}}</ref>

In September 2015, Stockmann sold The Academic Bookstore to [[Bonnier Group|Bonnier Books AB]] media.<ref>{{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}}</ref>

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.<ref>{{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}}</ref><ref>{{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}}</ref><ref>{{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}}</ref>

On January 1, 2017, Stockmann sold Hobby Hall to SGN Group.<ref>{{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}}</ref>

In 2017, the company sold its food division, Stockmann Herkku, to [[S Group]] for €27 million.<ref>{{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}}</ref><ref>{{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}}</ref>

In May 2018, the company sold [[Kirjatalo]], the building opposite their flagship store in Helsinki which houses the Academic Bookstore, for €108 million.<ref>{{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}}</ref>

In March 2019, CEO Lauri Veijalainen resigned.<ref>{{cite news | url=https://yle.fi/uutiset/3-10701636 | title=Stockmannin toimitusjohtaja vaihtuu | work=[[TV Finland]] | date=March 22, 2019 | language=fi}}</ref><ref>{{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}}</ref>

In June 2019, the company announced 150 layoffs.<ref>{{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}}</ref>

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

==Locations==
===Finland===
* [[Stockmann, Helsinki centre|Helsinki City Center]], Stockmann's oldest and largest flagship store
* [[Itis shopping centre]], Helsinki
* [[Jumbo Shopping Centre|Jumbo shopping centre]], [[Vantaa]]
* [[Ainoa (shopping centre)|Ainoa shopping centre]], [[Espoo]]
* [[Tampere]]
* [[Turku]], in [[Hansa (shopping centre)|Hansa shopping centre]]

===Estonia and Latvia===
* [[Tallinn]], [[Estonia]]
* [[Riga]], [[Latvia]]

===Russia (under license)===
[[File:Stockmann St. Petersburg.jpg|thumb|Stockmann department store in St. Petersburg.]]

* [[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".<ref>{{Cite web|url=https://www.interfax.ru/business/818470|title=Сбербанк планирует купить российскую сеть Стокманн|language=ru|date=2022-01-26|publisher=[[Интерфакс]]}}</ref>

==References==
{{Reflist}}

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

{{Nasdaq Helsinki}}
{{Authority control}}

[[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]]