Debenhams
Debenhams was founded in 1778 as Flint & Clark; at the beginning it was a draper’s store. William Debenham joined the company in 1813, and the subsequently its name was changed to Clark & Debenham.
The business was successful and soon expanded; new stores were opened throughout the city and into other parts of the United Kingdom as well. A new partner joined the company in 1851, his name was Clement Freebody; and again the company’s name was changed to Debenham & Freebody. By the turn of the century, the company would become known simply as Debenhams.During the following years, Debenhams expanded to include more stores but also started to produce its own clothing designs, contributing to a strong reputation of exclusivity among its clientele. Queen Victoria was among its customers. In 1905, the company opened its first Debenhams department store, and incorporated as Debenhams Limited.
Debenhams bought department stores in towns and cities throughout the United Kingdom. The first of these purchases was Marshall & Snelgrove, acquired in 1919; followed by Harvey Nichols in 1920. The Harvey Nichols name, featured in Debenhams stores and in its own stores, would grow to become an exclusive, high-end label. In 1928, Debenhams went public, listing its shares on the London Stock Exchange.
After World War II, Debenhams found itself playing catch-up in a marketplace featuring rising stars such as Marks and Spencer. Once a leader in the London department store market; Debenhams was soon outpaced by Marks and Spencer, among others. In 1985, Debenhams was acquired by the Burton Group. The Burton Group had a portfolio of sixty-five department stores in key locations across the United Kingdom. American John Hoerner, seconded by Terry Green, were brought in to revitalize the ailing Debenhams chain; to that end, Hoerner and Green closed stores, reduced departments, reduced sales events, and introduced a series of company-owned brand names. As Debenhams regained its profit and sales momentum, the company slowly began to seek new store openings.
In January 1998, Debenhams demerged from the Burton Group, which subsequently changed its name to Arcadia Group plc. Debenhams was once again, an independently listed company on the London Stock Exchange, with the name Debenhams plc. Former Burton chief John Hoerner had taken charge of the new Arcadia Group, while the newly independent Debenhams continued to be led by CEO Terry Green.
Restored to independence, Debenhams featured more than ninety department stores, one-hundred eight restaurants, a growing wedding gift service, and a vibrant range of proprietary as well as internationally recognized brands. The company also had taken the first steps toward an international presence, entering into a franchise agreement with the Middle East's MH Alshaya Group. In 1998, Debenhams opened stores in Bahrain and Kuwait; and two more stores were scheduled to open in 1999, in Dubai and Jeddah.
Debenhams expanded much more under the leadership of Belinda Earl, who was appointed CEO in 2000. In 2003, the Company again changed owners; it was bought by a private consortium comprising CVC Capital Partners, Texas Pacific Group, Merrill Lynch Global Private Equity and Management. Debenhams returned to the London Stock Exchange in 2006.
Debenhams has continued to develop a unique mix of exclusive own brands including 'Designers at Debenhams', international brands and concessions. In 2008, the Debenhams was voted The Best UK department store by GMTV. Today, it owns one-hundred fifty-eight stores across the United Kingdom and Ireland, and is among the country’s top five retailers. It also has forty franchise stores operating in other countries, including Malaysia and Indonesia.
