MCM
Sungjoo Group · Germany
MCM is a leather goods and fashion brand founded in Munich in 1976 by Michael Cromer, originally as Michael Cromer Munich. Since 2005 it has been owned by the South Korean Sungjoo Group, led by Kim Sung-joo. Best known for its Cognac Visetos logo canvas, it generates most of its sales in Asia.
| Founded | 1976 |
|---|---|
| Founder | Michael Cromer |
| Owner | Sungjoo Group (since 2005) |
| Chairwoman | Kim Sung-joo |
| Headquarters | Munich, Germany |
| Signature | Cognac Visetos canvas |
| Website | mcmworldwide.com |
What is MCM?
MCM designs bags, small leather goods, ready-to-wear and accessories, with its logo-printed Visetos canvas and brass plate insignia as its most recognisable codes. The brand keeps Munich as its headquarters and design reference, while its ownership and much of its commercial weight sit in Asia.
History
Michael Cromer founded the company in Munich in 1976 as Michael Cromer Munich, positioning it as a luxury travel and leather goods label. Wikipedia reports that the brand reached sales of about 250 million US dollars in 1993 before declining. In 2005 it was acquired by the Sungjoo Group, the South Korean retail and distribution company founded by Kim Sung-joo, who serves as chairwoman. Under Sungjoo the brand repositioned towards younger customers, streetwear influences and travel. Since June 2023 Wikipedia lists Tina Lutz as global creative lead and Katie Chung as creative director.
Products and positioning
MCM sits between premium and luxury pricing. Its offer includes:
- Backpacks, totes and crossbody bags in Visetos canvas and leather
- Ready-to-wear for women and men
- Eyewear, licensed to Marcolin since 2023
- Fragrance, licensed to Inter Parfums, with a first scent launched in 2021
The brand has also collaborated with partners such as Puma and Crocs.
Business model and distribution
MCM combines directly operated stores, franchise partners and wholesale accounts with category licences. According to Wikipedia, around 70 percent of sales come from Asia, with the remainder from Europe, the Middle East and the Americas. Sungjoo Group describes itself as a distributor and importer of fashion and accessories in Korea, and presents MCM products and stores on its corporate site.
Why it matters
MCM is an example of a European heritage brand revived by an Asian owner and rebuilt around Asian demand. Its use of licences for eyewear and fragrance and its collaborations with sports and lifestyle brands reflect how mid-sized accessories labels extend reach without building every category in-house.
Frequently asked questions
Who owns MCM?
MCM is owned by the South Korean Sungjoo Group, which acquired the brand in 2005. The group is led by its founder and chairwoman Kim Sung-joo.
Is MCM a German or Korean brand?
MCM was founded in Munich, Germany, in 1976 and still lists Munich as its headquarters. Its owner since 2005 is Korean, and most of its sales are generated in Asia.
