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Leonhard Tietz

Leonhard Tietz German economist

German economist
The basics
Quick Facts
Intro German economist
Countries Germany
Occupations Economist
Type Finance
Gender male
Birth 3 March 1849 (Międzychód, Gmina Międzychód, Międzychód County, Greater Poland Voivodeship)
Death 14 November 1914
Star sign PiscesPisces
The details
Biography

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.

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 the NSDAP came to power, and forced the "Aryanisation" of Jewish enterprises. 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 emigrated, and were refunded after the end of World War II with 5 million DM. Today, the department store chain Kaufhof AG is the direct descendant of the tiny shop opened in 1879.

The contents of this page are sourced from Wikipedia article. The contents are available under the CC BY-SA 4.0 license.
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Sources
References
http://isni.org/isni/0000000066842930
http://purl.org/pressemappe20/folder/co/046021
https://id.loc.gov/authorities/names/no2007113757
https://d-nb.info/gnd/120882604
https://viaf.org/viaf/74694884
https://www.wikidata.org/wiki/Q120590
https://www.worldcat.org/identities/containsVIAFID/74694884
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