key people kim sung joo chairman michael michalsky creative director website www.mcmworldwide.com mcm worldwide is a leather luxury goods brand founded in 1976 in munich and bought out by sungjoo group in 2005 . the brand s signature logo printed material called cognac visetos appears on many of its products . its brass plate insignia is found on all heritage collection bags and most products ; each brass plate is identified by a unique number at the bottom . 1 mcm sells its products through wholesale accounts franchises and directly operated stores . contents 1 history 2 gallery 3 references 4 external links history edit the mcm label originally stood for michael cromer m nchen was founded by michael cromer in 1976 in munich germany . 2 the company designed expensive leather suitcases and handbags which became popular during the 1980s for being ostentatious and flashy . 2 at the height of its popularity in 1993 it owned 250 branches worldwide and recorded sales of 250 million . 2 following a 1995 investigation of cromer for alleged tax evasion by german tax authorities banks and investors lost faith in mcm s financial stability . 3 in 1997 the company was restructured and its stores and trademark rights were split and sold . 3 in 2005 the worldwide rights to the mcm brand were acquired by sungjoo group a south korean retail business founded by sung joo kim the youngest daughter of south korean magnate kim soo keon . 4 kim re launched the brand in 2006 with a new store in berlin and appointed german designer michael michalsky as mcm s creative director . 5 mcm thereafter reopened stores in new york paris london singapore tokyo and china among others . in 2011 mcm debuted its largest store in hong kong s entertainment building . 6 mcm makes roughly 60 % of its sales in asia and roughly 40 % in europe the middle east and the americas . 4 the brand aims to have sales of 2 billion by 2019 . 4 gallery edit mcm store in berlin mcm heritage cognac visetos travel collection mcm stark backpack in cognac visetos references edit mcmworldwide.com brand identity a b c ramirez elva march 12 2010 . mcm s eastern makeover . wall street journal . retrieved 27 july 2014 . a b elendt von gerd ; jochen siemens july 20 2007 . der fall des michael cromer in german . stern . retrieved 27 july 2014 . a b c businessoffashion.com mcm aims for 2 billion sales in five years april 22 2016 moodie report mcm reaches for the stars on global stage 10 11 06 moodie report mcm inaugurates hong kong flagship in glittering ceremony external links edit wikimedia commons has media related to mcm modern creation m nchen . official website mcm worldwide on facebook retrieved from https en.wikipedia.org w index.php title mcm worldwide & oldid 742189441 categories luggage brandsluggage manufacturersluxury brandsdesign companies established in 1976manufacturing companies established in 1976german brandshigh fashion brandsretail companies of south koreahidden categories cs1 german language sources de commons category with local link different than on wikidata navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version in other projects wikimedia commons languages deutsch edit links this page was last modified on 2 october 2016 at 06 03 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view