You probably have seen the popular MCM logo printed all over purses, wallets, backpacks, and more. What you probably know is that it is a luxury fashion brand with a specialty in leather goods, but I’m guessing you clicked on this article to learn what “MCM” actually means and the MCM bag meaning.
MCM was founded in 1976 by Michael Cromer in Munich, Germany. The brand MCM simply stood for the MCM brand owner “Michael Cromer Munich”. That was before it was bought out in 2005 by Sungjoo Group of Korea. Now it is referred to as Modern Creation Munchen or Modern Created Munich for the English version.
History of the Brand
MCM brands origin began in 1976 and rose to popularity quickly in the 1980s for being flashy and ostentation and often worn by the wealthy and rich. At the peak of the brand’s popularity in the 1990s, MCM ran over 250 different stores selling their luxury goods with a sales record of over $250 million in 1993. In 1995 the leather luxury goods brand began its downfall as the German tax authorities began an investigation into Michael Cromer’s tax evasion. Investors and banks lost faith in the brand’s financial situation and started to pull out their money and assets. In 1997 the brand was restructured, trademarks sold, and eventually, in 2005 the brand was acquired by the Sungjoo Group.
Modern Day MCM
Is MCM a designer brand? Yes, it still is.
In 2005 the brand was sold to the Sungjoo Group which is a retail business founded by Sung-Joo Kim the youngest daughter of an elite South Korean family. In 2006 the brand relaunched with a new store in Berlin. Years following stores opened around the world in New York, Paris, London, Tokyo, Toronto, Singapore, China, Las Vegas, and other cities where you can get yourself an MCM bag or other leather luxury goods.
The brand remains global but makes roughly 70% of sales in Asia. The brand now sells billions of dollars of goods every year under Kim’s visionary leadership.
MCM in Popular Culture
If you haven’t heard of MCM before then you probably have seen it before as it is worn by some of the world’s most famous celebrities. You can see the bags carried by celebs like Beyonce, Rhianna, and Selena Gomez.
Also, it is popular among young fashion enthusiasts and students as the brand blends streetwear and high fashion perfectly which seems to be the M.O for any luxury brand’s success.
Even though retail prices mimic those of Louis Vuitton or Gucci, you can get yourself a steal in the secondary market for MCM. A quick look at The RealReal will have you find MCM bags for $300, MCM backpacks for $400, and MCM wallets as low as $100. This is a steal for any luxury leather goods, and MCMs products are high quality and will last you for years.
Summary
MCM is a brand that became extremely popular in the 1980s and 1990s, had an extreme downfall for 10 years, and then boomed into a worldwide luxury brand once again behind new leadership, whether you see MCM as the Michael Chromer Munich brand or the Modern Created Munchen, disregarding scandals, both eras produced luxury high-quality goods for the rich and extravagant clients to wear and flaunt. To me, MCM is a brand that stands for luxury.