Mode Creation Munich

Modern Creation Munich ( MCM) originally Michael Cromer Munich is one founded in Munich in 1976 by ​​Michael Cromer company that manufactures colored travel bags.

In the early 1990s put MCM in 250 stores worldwide around 200 million euros. MCM was particularly successful in Asia, until the Asian crisis in 1997. The leather producer then had only 25 million euros and 18 million euros made ​​loss. Asian producers could continue to run the machine at night and sold the bags for years on his own account on the black market, which CEO Cromer not learned.

In April 1996 came at the tax investigation a nine-page handwritten anonymous complaint, according to the Cromer the Treasury had withheld 40 million euros. Yet the following night he fled to Switzerland.

Four months later, the tax office received a second anonymous letter. Cromer should have evaded even 55 million euros in taxes. The unknown until today complainant filed a second display, as MCM just stood with banks in negotiations over the extension of a million loan. The banks announced the loans and MCM could no longer pay its bills. The elegant clientele turned away from MCM.

An official appointed by the banks renovators disassembled MCM. The trademark secured a holding company based in the Swiss canton train, which is considered a tax haven. Cromer sued the new owner, spending the rest of his personal wealth from. But the loss of his life's work, he could not prevent.

MCM experienced after a second bloom. The company was sold several times, most recently at the Korean Sung -Joo Kim, a former Asia - licensee of MCM. They moved the company headquarters from Munich to Zurich. In 2006 she made ​​, mainly in Asia, with suitcases and bags 100 million euros.