Karstadt Quelle AG History

Company Perspectives:

If you do not try to get better, you have stopped being good. That is the principle that Karstadt Quelle is committed to. Our customers, shareholders, and the public have a right to expect a great sense of responsibility and above-average service in the areas of environmental protections, social policy, and professional organizations. We are continuously trying to meet those expectations with top performances--for the benefit of all.

Key Dates:

1881:

Rudolph Karstadt launches eponymous store.

1904:

Theodor Althoff opens his first store.

1920:

Rudolph Karstadt and Theodore Althoff merge operations and form Rudolph Karstadt AG.

1926:

Karstadt launches EPA Einheitspreis AG.

1927:

Gustav Schickedanz founds Quelle.

1933:

Restructuring of Karstadt.

1949:

First Quelle department store opens.

1956:

Quelle launches NORIS Bank GmbH (later Quelle Bank).

1958:

Karstadt fully reacquires EPA Einheitspreis AG--now called Kepa Kaufhaus GmbH (Kepa).

1976:

Karstadt purchases stake in Neckermann Versand.

1990:

Quelle opens new mail-order center in Leipzig.

1994:

Karstadt merges with Hertie Waren & Kaufhaus GmbH.

1997:

Schickedanz purchases 20 percent stake in Karstadt.

1998:

Karstadt creates C&N Touristic with Lufthansa.

1999:

Karstadt purchases Quelle from Schickedanz and becomes Karstadt Quelle.

2000:

Karstadt Quelle purchases Thomas Cook.

Company History:

Further Reading:

• Cole, Deborah, "Berlin Reopens Beloved Symbol of Consumer Freedom," Reuters Business Report, September 24, 1996.
• Dauer, Ulrike, and Angela Cullen, "Retailing: Karstadt Discusses Joining Forces with Schickedanz," Wall Street Journal Europe, April 20, 1999.
• Demain, Beth, "Karstadt Quelle Unveils New Strategy, But Skeptical Investors Aren't Buying," Wall Street Journal Europe, October 18, 2000.
• Doran, Patricia, "Konig Karstadt," Sporting Goods Business, August 1994, p. 56.
• Fallon, James, "Confirm Karstadt to Acquire Hertie Department Stores; Deal Worth $1.6 Billion," Daily News Record, November 16, 1993, p. 10.
• Fessenden, Helen, "Lufthansa-Karstadt Venture Praised But Cartel Issue Looms," Dow Jones International News, September 18, 1997.
• Gilardi, John, "German Retail Unions Stage More Strike Actions," Reuters, May 30, 1995.
• Grete Schickedanz: Ein Leben für die Quelle, Fürth, Quelle, 1986.
• Karstadt Magazin: Jubiläumsausgabe, 1881-1981, Essen: Karstadt AG, 1981.
• "Karstadt Reports Loss," Wall Street Journal Europe, August 29, 2000.
• "A Little Online Shopping but with a European Flair," PCWeek, January 20, 1997, p. 115.
• Pentz, Michelle, "Teleshopping Gets a Tryout in Europe," Wall Street Journal, September 9, 1996.
• Miller, Marjorie, "Unions Seeing Red As German Blue Laws Ease," Los Angeles Times, October 29, 1994, p. 2A.
• Prada, Paulo, "Field Thins Out After Deal by C+N for Thomas Cook," Wall Street Journal Europe, December 8, 2000.
• Rohwedder, Cacilie, "Karstadt Agrees to Acquire Retailer Hertie," Wall Street Journal Europe, November 12, 1993.
• Spahr, Wolfgang, "Merger Causes Alarm in Germany; Retailers Told to Sell Some Music Outlets," Billboard, March 19, 1994, pp. 49, 50.
• "West German Shops; Geschlossen," Economist, March 1, 1986, pp. 67-68.
• Whitney, Craig R. "Comfortable Germans, Slow to Change (Especially If It Means More Work)," New York Times, January 16, 1995, p. 6A.

Source: International Directory of Company Histories, Vol. 57. St. James Press, 2004.