Jelmoli
| Jelmoli AG | |
|---|---|
| legal form | Corporation |
| founding | 1849 2006 (Jelmoli AG) |
| Seat | Zurich , Switzerland |
| management | Nina Müller ( Director ) René Zahnd ( Chairman of the Board of Directors ) |
| Branch | Retail trade |
| Website | www.jelmoli.ch |
Jelmoli is a department store in the immediate vicinity of Bahnhofstrasse in Zurich , which was the first and last of a former chain of department stores to remain in Switzerland. In addition to the headquarters on Seidengasse, there is also a shop at Zurich Airport in the Airside Center ; The opening of another store at the airport in the new Circle building is planned for the second half of 2020 .
Until the mid-1990s, there was a chain of department stores in Switzerland under the name Jelmoli with locations in numerous Swiss cities. The company went back to Johann Peter Jelmoli, who was based in Zurich from 1833.
Jelmoli Holding , active in the retail and real estate industry, was taken over by Swiss Prime Site in 2009 . Born in Austria, Nina Müller has been the CEO of Jelmoli since April 1, 2020.
Jelmoli department store
prehistory
The company goes back to the Italian fashion merchant Guglielmoli, who took the name Johann Peter Jelmoli in Switzerland . Jelmoli came from a farming family from Toceno , a village in the Valle Vigezzo not far from the Swiss border . He married the daughter of a textile merchant from the same village who was a partner in a trading house for shirts, scarves, tablecloths and carpets in Mannheim . Jelmoli completed his apprenticeship with his future father-in-law and worked for Franz Ciolina in Bern from 1832 before starting to work on his own in 1833, initially under the name of the Ciolina brothers.
Jelmoli's first store was located in a property on the Schipfe directly on the Limmat . The business was quickly successful thanks to the then still new concept of "fixed prices", which no longer haggled . Jelmoli also entered the mail order business in 1834 and delivered goods to customers in the city and the surrounding area. With the opening of the Münsterbrücke in 1837, Jelmoli moved into the property at Münsterhof 17, which was closer to the changed pedestrian flows. In 1849 Jelmoli broke away from the Ciolinas and named his company Jelmoli & Comp.
Due to the success, the son Franz Anton Jelmoli planned to expand the company. In 1882 he opened a branch on Bahnhofstrasse. However, the business had to be liquidated because of the weak global economy. In 1896 it was converted into the joint stock company for the sale and dispatch of manufactured goods, formerly F. Jelmoli , whereby the mail order business became independent and capital was raised for the construction of a department store. The first Jelmoli mail order catalog was published in 1897.
First department store
The area of the former silk courtyards was acquired for the construction of the department store . Reminiscences are the Seidengasse and the colloquial name Seidenhof for the main Jelmoli store. Construction began in 1897. The design by Stadler and Usteri was called the “Glass Palace”. The iron skeleton construction with glass partition walls modeled on the high-rise buildings in Chicago was still new in Europe at the time and followed the style of the Parisian Grands Magasins. The construction costs were estimated at 600,000 francs. With the opening of the Glass Palace in 1899, the company took on the name Grands Magasins Jelmoli SA . The department store with 72 employees had sales areas on three floors. New sales were also carried out on a regular basis, a hitherto unknown lure method in Zurich.
The main business was gradually expanded. In 1907, 1924 and 1927, the inner courtyard of the Glass Palace was built over by Pflegehard and Haefeli without touching the building's facade. From 1931 to 1932 an extension was built due to the urgent need for space, which extended the department store to the corner of Sihlstrasse and Horngasse. The design by Pflegehard and Haefeli was created in collaboration with the Berlin department store architect Johann Emil Schaudt . The annex building differs significantly from the architectural style of the glass palace and initially had a temporary roof because it could not be built to its full height for legal reasons.
In the years 1936 to 1938, the warehouse was expanded again by Pflegehard and Haefeli. At the corner of Horngasse and Uraniastrasse , a new building with a distinctive rounded corner and tower was built, designed by JP Mongeaud from Paris. Before the construction, the stone mill square was created by grinding a block edge with a triangular floor plan . The extension from 1931 was raised by one floor and given a permanent roof. The Jelmoli department store thus formed a closed perimeter block development with an inner courtyard around the entire area between Seidengasse, Sihlstrasse, Horngasse and Uraniastrasse, except for the corner of Uraniastrasse-Seidengasse, which is still occupied by old houses. The area of the building was 5300 m², the enclosed space 114,000 m³.
Further extensions followed in 1947 and 1958–1961. The Jelmoli multi-storey car park was built under Steinmühleplatz and had an attached above-ground Shell petrol station. A closed pedestrian bridge for the staff was built for the newly constructed business property Steinmühleplatz / Sihlstrasse / St. Anna-Gasse, which also belongs to Jelmoli; the property houses the Hiltl , the oldest vegetarian restaurant in Switzerland.
For the expansion of Grands Magasins Jelmoli SA into a department store chain, the Jelmoli AG purchasing center was founded in 1952 , which set up a logistics system for supplying the branches. Expansion began in 1954 with the opening of a first branch in Zurich Oerlikon ; a good 50 other Jelmoli department stores followed in the rest of Switzerland. Jelmoli expanded into French-speaking Switzerland in 1963 by taking over the Innovation department stores in Lausanne and Au Grand Passage Geneva . In 1968, the central purchasing department merged the management of the branches in the new warehouse and logistics center in Otelfingen , to which a second warehouse center in Lausanne Sébeillon was attached for western Switzerland .
The diversification of the department store group began in 1972 with the establishment of Jelmoli Reisen , the Molino restaurant chain and Terlinden-Jelmoli for dry cleaning, which was founded together with the Terlinden group . The Jelmoli Group reached its zenith in 1988 with a stand of 231 locations, 5200 employees and a turnover of 1471 million CHF .
A restructuring of the company, which slowly pulled it away from its core business, began in 1989. The creation of a real estate division led to the closure of Jelmoli department stores and the management of the properties by the new real estate department. In 1989, Hans Imholz Holding AG , active in the travel industry, was taken over and merged with Jelmoli Reisen to form Imholz-Jelmoli Touristik Holding AG , whose travel agencies were run as Imholz Reisen AG under Jelmoli .
In 1994, Jelmoli took over the Dipl. Ing. Fust AG from Walter Fust, based in Oberbüren , thereby investing in another specialist shop that had little to do with the traditional department store business. In the same year the decision was made to convert the Jelmoli Group into a holding company; In mid-1995, Grands Magasins Jelmoli SA (German: Warenhaus Jelmoli AG ) became Jelmoli Holding AG . The Jelmoli department store business became completely part of the Jelmoli AG purchasing center group , which changed its name to Jelmoli AG .
In the 1990s, sales and profits in the department store business steadily declined because, on the one hand, the broad base of Jelmoli department stores collapsed with the new property management and, on the other hand, a slump in consumption was noticeable in all Swiss department stores. As a result of this development, Jelmoli withdrew completely from the department store business in 1995/1996 and closed all branches except the traditional “Glaspalast” in Zurich. This made the logistics centers superfluous, the majority of the traditional Jelmoli dispatch department was sold and the remaining Zurich parent company was rebuilt to compensate for the loss of purchasing and warehouse logistics. Since 1997 it has presented itself as a premium department store under the slogan The pure pleasure of discovering new things .
Jelmoli Holding
| Jelmoli Holding AG
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | CH0000668472 |
| founding | 1896 1995 (Holding) |
| resolution | 2010 ( through takeover ) |
| Seat | Zurich , Switzerland |
| management | Nina Müller (CEO), René Zahnd ( Chairman of the Board ) |
| Number of employees | 581 (April 01, 2020) |
| sales | 137.6 million CHF (2007) |
| Branch | Retail and real estate |
The transformation of the department store group into Jelmoli Holding turned out to be difficult in the first few years. Due to liquidity bottlenecks and the threat of over-indebtedness, the company had to part with its core business (department store chain and shipping) almost completely in 1996. Walter Fust, who had sold his own company to Jelmoli just two years earlier, acquired the majority in Jelmoli Holding in 1996 and became Chairman of the Board of Directors in 1997, took advantage of the opportunity.
The retail and real estate divisions are establishing themselves within the holding company , although the former is subject to constant changes.
For the mail order business combined in Jelmoli Versand AG , a cooperation was entered into with the German Heine Versand , whereby the majority of the shares in the subsidiary were sold to Heine in 1996.
When Imholz Reisen AG is entered into a collaboration with TUI one (Suisse) and Vögele Reisen, which is a joint venture under the name ITV (Imholz-TUI-Vögele) were formed. In 1999, Jelmoli Holding sold its stake in ITV, which has been calling itself TUI (Suisse) again since 2000 .
The Portable Shop Switzerland AG was acquired in 1998 and merged the 2,003th in the Dipl. Ing Fust. The Rediffusion AG , which was once the Zurich cable network and a consumer electronics chain operation, has been split, with Cablecom took over the cable network. In contrast, the rest of the company was taken over by Jelmoli Holding in 2002 and integrated into Fust - this made Fust the exclusive distribution partner for Cablecom products.
In 1999 Jelmoli sold its 50 percent stake in Terlinden-Jelmoli Textilpflege AG to Terlinden Management AG.
In July 2006 a majority stake of 80% was acquired in netto24 AG , which operates in the online mail order business under the two Internet domains www.preisinsel.ch and www.netto24.ch.
In May 2007, Jelmoli Holding announced its intention to sell the electronics and household appliance dealer Dipl. Ing. Fust AG and the majority stake in netto24 AG to Coop for around CHF 990 million - subject to approval by the Competition Commission . This confirmed the strategy of separating from the retail trade and restricting itself to real estate management. The sale was completed at the end of November 2007 following the approval of the Competition Commission.
At the end of July 2007, Jelmoli Holding AG announced that it would sell its Swiss properties to an international consortium consisting of Igal Ahouvis Blenheim Properties , Delek Global Real Estate and Delek Belron International Ltd. at a price of CHF 3.4 billion . to have sold. The consortium has also been granted an option by the end of 2007, the Department Store Jelmoli , the majority of Jelmoli Bonus Card AG and the Service AG Jelmoli to acquire. Jelmoli Holding AG was to be restructured into an investment company as part of a strategic realignment . As it turned out later, the buyer consortium planned to finance the purchase with credit . However, when the money and capital markets came to a de facto standstill in the course of the subprime crisis in mid-August 2007 , the consortium of buyers apparently had problems raising the agreed purchase price of CHF 3.4 billion and asked Jelmoli Holding AG to renegotiate the price. The Israeli investors wanted to force a price reduction of 10% and justified this with "changed realities on the financial market". After several weeks of negotiations, Jelmoli Holding AG announced at the end of October that the buyer of the Jelmoli real estate portfolio was refusing to execute. At the beginning of December 2007, Jelmoli Holding initiated a lawsuit against the consortium of buyers for breach of contract.
The majority shareholders of Jelmoli and Jelmoli Holding were the Ringier publishers from around 1940 , the Schweizerische Kreditanstalt from 1969 , UTC International from 1977 , Walter Fust from 1996 and Georg von Opel, a representative of the Opel family, until March 2009 . Since then, Jelmoli AG has been 100% owned by Swiss Prime Site, which also owns the property on Bahnhofstrasse.
Splitting up
After several years of searching for a strategic realignment and the unsuccessful spin-off of real estate in 2007, Jelmoli Holding finally decided in January 2009 to split up into two independent listed companies - a real estate company and an investment company. The division of the previous group was completed at the end of March 2009.
- Jelmoli Holding AG
The real estate company, which continued to operate under the name Jelmoli Holding, comprised a real estate portfolio worth around 3.2 billion Swiss francs. The retail business with the Jelmoli department store is her second mainstay. At the end of May 2009 the former majority shareholder of Jelmoli Holding, Georg von Opel, sold his 30 percent stake in the new Jelmoli Holding to the Swiss real estate company Swiss Prime Site (SPS). At the beginning of June 2009, the latter submitted a public exchange offer to the other shareholders to take over all Jelmoli shares in the public domain.
After a slight improvement of the offer, the SPS controlled around 98% of the Jelmoli voting rights at the end of October 2009, which enabled the so-called squeeze-out procedure to be initiated. Officially titled “Fusion with Jelmoli”, the Jelmoli board members Christopher Chambers and Klaus Wecken were on the SPS board of directors. With a merger agreement dated June 22, 2010, Jelmoli Holding AG was transferred to the SPS subsidiary “SPS Beteiligungen Alpha AG”, whereby Jelmoli Holding was deleted from the commercial register on June 28, 2010.
With the dissolution of Jelmoli Holding under the SPS, the remaining 72.5% of the "Jelmoli Bonus Card AG", founded in 2006 and taken over by Valartis Group AG , was parted at the end of May 2010 . The company, in which Valartis had held a 27.5% stake since it was founded, was then renamed Valartis Bonus Card AG.
- Athris Holding AG
The investments of Jelmoli Holding, which are no longer part of the core business, were brought into the independent investment company, which acts as Athris Holding . At the time, these included Seiler Hotels Zermatt AG in Switzerland, the retail stores Molino (restaurants), Beach Mountain (sporting goods and clothing) and Fundgrube (clothing and non-food), as well as real estate investments in Russia and Algeria , which were not part of Jelmoli's core business . At the end of 2009, Athris was almost completely taken over by Georg von Opels Pelham Investments AG and delisted from SIX again in January 2010.
Web links
- Jelmoli website
- Markus Bürgi: Jelmoli. In: Historical Lexicon of Switzerland .
- Beat Metzler: The consumer revolution of Mr. Jelmoli. Tages-Anzeiger , September 4, 2008, accessed March 18, 2017
Individual evidence
- ↑ a b Adi Kälin: The Jelmoli archive is now officially a Zurich cultural asset . In: Neue Zürcher Zeitung . September 4, 2018, ISSN 0376-6829 ( nzz.ch [accessed April 2, 2020]).
- ↑ a b c Markus Bürgi: Johann Peter Jelmoli. In: Historical Lexicon of Switzerland . January 29, 2008 .
- ^ A b Cornelia Bauer, Hanspeter Rebsamen, Jan Capol: Zurich . In: Inventory of recent Swiss architecture (INSA), 1850-1920: Cities . No. 10 , 1992, Zurich, p. 408 , doi : 10.5169 / seals-10931 .
- ^ H. Stadler: New building of the business and department store of the stock corporation vorm. F. Jelmoli in Zurich I . In: Schweizerische Bauzeitung . 1898, doi : 10.5169 / seals-20819 .
- ↑ Isabella Seemann: Cathedral of Consumption. In: Tagblatt der Stadt Zürich. 15th January 2019 .
- ↑ Werner Huber: A heart for Jelmoli . In: Hochparterre AG . 2005, doi : 10.5169 / seals-122603 .
- ^ Pflegehard: Jelmoli department store in Zurich . In: Schweizerische Bauzeitung . 1940, doi : 10.5169 / seals-51159 .
- ↑ Jelmoli Holding AG, Annual Report 2019
- ↑ Jelmoli Holding AG: media release of November 26, 2007
- ↑ Jelmoli Holding AG : Jelmoli Holding sells its properties and strategically realigns itself ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , Media release of July 31, 2007
- ↑ Jelmoli Holding AG: Buyer of the Jelmoli real estate portfolio refuses to execute ( page can no longer be accessed , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , Media release of October 25, 2007
- ↑ Jelmoli Holding AG: Jelmoli Holding takes legal action against the consortium of buyers of the real estate portfolio. ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. Media release of December 5, 2007.
- ↑ Swiss Prime Site AG: Pre-registration of a public exchange offer (PDF; 120 kB), June 2, 2009
- ↑ Valartis Group AG: Valartis takes over Jelmoli Bonus Card AG ( Memento of the original from March 15, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF), media release of May 28, 2010
Coordinates: 47 ° 22 '27.4 " N , 8 ° 32' 14.3" E ; CH1903: six hundred eighty-two thousand nine hundred and seventy-six / 247629