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NKD (retailer)

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NKD Group GmbH
Company typeGmbH
IndustryRetail
Founded1962
FounderBurkard Hellbach
Headquarters
Bindlach, Germany
Area served
Germany, Austria, Slovenia, Croatia, Italy, Poland, Czech Republic
Key people
Alexander Schmökel CEO, Nils Bolender CFO, Christian Welles (Chief Sales Officer)
ProductsClothing and Non-Food products
Revenue€ 820 (2023) million
Number of employees
est. 10,000 (2024)
Websitehttps://www.nkd.com

NKD is a German clothing discount store chain headquartered in Bindlach, Germany. With about 2,100 stores in Germany, Austria, Italy, Slovenia, Croatia, Czech Republic, and Poland, an online shop and over 10,000 employees, NKD is one of the largest fashion retail companies in Germany.[1]

History

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In 1962 founder Burkard Hellbach opened the first retail store named NK Discount in Essen-Rüttenscheid, Germany. By 1985 the 250th store was opened and by 1989 the 500th store was opened. NKD first internationalized in 1995 via a takeover of around 100 stores owned by Hertz TPS (Tief Preis Shop) headquartered in Wels, Austria.[2][3] In 2006 NKD entered Italy.[4] In 2008 NKD entered Slovenia.[5] In 2010 NKD entered Croatia.[6] In 2022 NKD entered Poland.[7]

Since 2007 NKD also sells its products online.[8]

Insolvency proceedings

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In March 2001 the NKD holding company filed for insolvency at the district court of Bayreuth with the insolvency proceedings starting shortly after.[9][10] Around 18 months later, NKD successfully restructured and refinanced ending the insolvency proceedings.[11]

Embezzlement scandal

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In November 2013 embezzlement charges involving Euro 3.7 million were brought against former managing director Michael Krause, at that time already in pre-trial custody, and one of his employees by the prosecution Hof (district).[12] In April 2015, Krause was convicted of embezzlement and received a six-year prison sentence.[13]

Ownership

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Founder Burkard Hellbach, who died in 2006,[14] left NKD in 2001 and the company was integrated into the Daun Group.[15] In 2013 finance investor OpCapita from London, UK bought NKD from the Daun Group[16] and six years later private equity firm TDR Capital acquired NKD from OpCapita.[17][18]

See also

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References

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  1. ^ "NKD in Zahlen". Fashion Network. 2020-03-20. Retrieved 2022-11-05.
  2. ^ "Historie". NKD (in German). 2022-09-01. Retrieved 2022-11-04.
  3. ^ "Mode-Diskonter NKD rollt Österreich auf". OÖNachrichten (in German). 2009-05-16. Retrieved 2022-11-04.
  4. ^ Isabell Guidastri (2017-11-23). "Is the Italian Market on the Rise Again?". brand-experts.com. Retrieved 2022-11-05.
  5. ^ "NKD entgeht nur knapp der Insolvenz" (PDF). Immobilienzeitung (in German). 2013-07-11. Retrieved 2022-11-05.
  6. ^ Sybille Roemer (2010-10-19). "NKD nun auch in Kroatien". e-tailment (in German). Retrieved 2022-11-04.
  7. ^ "Historie". NKD (in German). 2022-09-01. Retrieved 2022-11-05.
  8. ^ Heike Hüschemenger (2009-09-10). "Woolworth wird NKD". Kölnische Rundschau (in German). Retrieved 2022-11-05.
  9. ^ Bekleidungsunternehmen NKD stellt Insolvenzantrag, Frankfurter Allgemeine Zeitung, 2001-03-21, page 21.
  10. ^ dpa (2001-06-09). "Textilfilialist NKD schließt 127 Geschäfte". Die Welt (in German). Retrieved 2022-11-05.
  11. ^ Renate Platen (2002-02-22). "NKD will wieder expandieren". Textilwirtschaft (in German). Retrieved 2022-11-05.
  12. ^ "Ex-NKD-Chef in U-Haft". Bayrischer Rundfunk (in German). Archived from the original on 2013-07-15. Retrieved 2022-11-05.
  13. ^ Matthias Erlinger (2015-04-29). "Sechs Jahre Haft für Ex-Manager von NKD". Textilwirtschaft (in German). Retrieved 2022-11-05.
  14. ^ Renate Platen (2006-10-09). "NKD-Gründer Burkard Hellbach ist gestorben". Textilwirtschaft (in German). Retrieved 2022-11-06.
  15. ^ "Mode zu einem guten Preis". Wirtschaftsforum (in German). Retrieved 2022-11-06.
  16. ^ "Daun-Gruppe trennt sich von Textildiscounter NKD". Nordwest Zeitung (in German). 2013-06-28. Retrieved 2022-11-06.
  17. ^ Rüdiger Oberschür (2019-03-20). "NKD acquired by private equity firm TDR Capital". Fashion Network. Retrieved 2022-11-04.
  18. ^ Matthias Erlinger (2020-01-07). "NKD: Aiming for expansion". Textilwirtschaft. Retrieved 2022-11-05.
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