Magasin du Nord
| Company type | Subsidiary |
|---|---|
| Industry | Retail |
| Founded | 1868 |
| Founder | Theodor Wessel, Emil Vett |
| Headquarters | Copenhagen , Denmark |
Area served | Denmark |
Key people | Alshair Fiyaz (owner of Solstra Holding, former owner) |
| Products | Department stores |
| Parent | Peek & Cloppenburg KG, Düsseldorf |
Magasin is a Danish department store chain comprising seven outlets, with its principal store situated at Kongens Nytorv in Copenhagen. Since 2021, it has functioned as a subsidiary of the German retail company Peek & Cloppenburg Düsseldorf and has been affiliated with the International Association of Department Stores since 1928.
History
The company was established in 1868 by Theodor Wessel and Emil Vett under the name Emil Vett & Co. Initially starting as a drapery in Aarhus, it expanded to Copenhagen in 1870, setting up shop at Hotel du Nord. The brand adopted the name Magasin du Nord in 1879. Additionally, the founders launched a textile manufacturing facility in Nørrebro in 1876, which was later moved to Østerbro.
By 1889, Magasin du Nord had secured ownership of the entire Hotel du Nord property, replacing it in 1894 with a department store designed in the French Renaissance Revival style by architects Henri Glæsel and Albert Jensen. The company grew its presence across Denmark, operating 50 outlets by 1892 and nearly doubling that number by 1906. Its first international expansion occurred in Malmö in 1911. In 1952, Magasin du Nord became publicly listed on the Copenhagen Stock Exchange and began focusing on fewer but larger retail locations.
In 1991, Magasin acquired rival Illum but divested it in 2003. Following financial difficulties, the company sold key real estate assets at Kongens Nytorv, Lyngby, and Aalborg through sale and leaseback agreements. In 2004, an Icelandic consortium led by Baugur Group took ownership of Magasin; after Baugur's bankruptcy in 2009, control shifted to Straumur Investment Bank and subsequently to Solstra Holding, a partnership involving businessman Alshair Fiyaz.
In November 2009, Debenhams acquired Magasin du Nord while Solstra retained ownership of the properties. Fiyaz assumed full control of Solstra in 2010 and proceeded to sell several properties to ATP and PensionDanmark for roughly DKK 1.5 billion, keeping only the flagship store under his portfolio. Due to ongoing financial strain, Debenhams listed Magasin du Nord for sale in September 2020. The retailer was ultimately purchased by Peek & Cloppenburg KG, Düsseldorf in May 2021.
Other branches
Magasin du Nord maintains three further outlets within the Copenhagen metropolitan area: one located inside Field's shopping centre in Ørestad and others situated in Lyngby and Rødovre suburbs. Additional stores are found in Odense, Aarhus, and Aalborg.
Museum
Since February 2, 2013, an exhibition at the Kongens Nytorv location has presented over a century and a half of Magasin du Nord’s retail legacy. This display is curated by the Magasin du Nord Foundation.
Magasin du Nord Fashion Prize
The annual Magasin du Nord Fashion Prize grants DKK 300,000 to a Danish designer or fashion label, representing Denmark’s most significant design accolade.