Leonhard Tietz
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Leonhard Tietz was born on 3 March 1849 in Birnbaum an der Warthe, Province of Posen, Prussia (today Międzychód, Poland) and died on 14 November 1914). He was a German merchant of Jewish origin.[1]
Biography
On 14 August 1879, he opened his first department store in Stralsund, with not much more than the idea that it should be possible to sell high quality products at fixed prices for cash. He was the first to introduce a money back guarantee. From 1891, a shop of his was to be found in Cologne.
In 1905, his enterprise was transformed into a joint stock company. After his death, his son Alfred Leonhard Tietz was to lead the firm until 1933, when Hitler's Nazi Party NSDAP came to power, and forced the "Aryanisation" of Jewish enterprises.[2][3]
Harassment of Jewish-managed firms hurt Tietz' business.[4]
The business was renamed Westdeutsche Kaufhof AG, but, in contrast to many other Jewish businesses, the internal structure was not changed.
The Tietz family was forced to sell their shares under market value. They fled Nazi Germany. After the Allied victory, they received some compensation estimated at 5 million DM.
Today, the department store chain Galeria Kaufhof is the direct descendant of the tiny shop opened in 1879.
Literature
Discrimination, Managers, and Firm Performance: Evidence from “Aryanizations” in Nazi Germany Kilian Huber, Volker Lindenthal, and Fabian Waldinger NOVEMBER 2020
See also:
External links
Media related to Leonhard Tietz at Wikimedia Commons- Documents and clippings about Leonhard Tietz AG in the 20th Century Press Archives of the ZBW
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- ^ "The Tietz Famiy" (PDF). Archived from the original (PDF) on 2020-09-20.
{{cite web}}:|archive-date=/|archive-url=timestamp mismatch; 2020-09-27 suggested (help) - ^ "A Re-assessment of Aryanization of Large Jewish Companies in Hitler's Reich, 1933-1935: The Role of Conservative, Non-Nazi Businessmen - ProQuest". www.proquest.com. Retrieved 2022-07-01.
- ^ Kilian Huber, Volker Lindenthal, and Fabian Waldinger (2020). "Discrimination, Managers, and Firm Performance: Evidence from "Aryanizations" in Nazi Germany" (PDF).
{{cite journal}}: Cite journal requires|journal=(help)CS1 maint: multiple names: authors list (link) - ^ Stock Market Performance of Jewish Firms During the Third Reich https://www.wiwi.uni-konstanz.de/typo3temp/secure_downloads/85539/0/e1c9300496b7624a1c5f62720b94796f91d46780/Version25_1_.pdf
- 1849 births
- 1914 deaths
- 19th-century German Jews
- German economists
- German businesspeople in retailing
- 19th-century German businesspeople
- 20th-century German businesspeople
- People from the Province of Posen
- Businesspeople from Mecklenburg-Western Pomerania
- People from Międzychód
- German business biography stubs
- European economist stubs
- German academic biography stubs