TK Maxx

Last updated

TK Maxx
Type Subsidiary
Industry Retail
Founded1994;28 years ago (1994)
Founder Bernard Cammarata
Headquarters Framingham, Massachusetts, United States
Number of locations
Europe – 596 (2 May 2020), [1] Australia – 56 (2 May 2020) [1] Total – 652 (2 May 2020)
Area served
United Kingdom
Australia
Ireland
Germany
Poland
Austria
Netherlands
ProductsClothing, footwear, bedding and domestics, furniture and giftware
Parent TJX Companies
Website www.tkmaxx.com

TK Maxx [lower-alpha 1] is a subsidiary of the American apparel and home goods company TJX Companies based in Framingham, Massachusetts. The stores operate throughout the United Kingdom, Australia, Ireland, Germany, Poland, Austria and the Netherlands, totalling 515 stores in Europe (up from 407 in December 2014) and 35 in Australia in April 2017. [2] In Poland, there are a total of 44 stores. The chain uses a slightly different name from that of the TJ Maxx stores in the United States, to avoid confusion with the British retailer T. J. Hughes.

Contents

History

TK Maxx on The Headrow in Leeds TK Maxx, The Headrow, Leeds 001.jpg
TK Maxx on The Headrow in Leeds
TK Maxx on Gracechurch Street, London TKMaxxLondon1.jpg
TK Maxx on Gracechurch Street, London
Interior of TK Maxx on Gracechurch Street, London TKMaxxlondon2.jpg
Interior of TK Maxx on Gracechurch Street, London
HomeSense and TK Maxx joint store in the MetroCentre, Gateshead TKMaxxHomesensemetro.jpg
HomeSense and TK Maxx joint store in the MetroCentre, Gateshead

In 1976, TJ Maxx was founded in Framingham, Massachusetts, United States, by Bernard Cammarata. The first international store opened in Bristol, UK, in 1994. [3] The company modified the name to TK Maxx to avoid confusion with the established British retail chain T. J. Hughes (which is not affiliated with TJX). [4]

In 2007, TK Maxx began winding down new store openings within the United Kingdom. Focus was given to revamping older inner city stores, or relocating them. This decision led to the creation of Maxx Maxx, moving from a budget reputation into a large department store format with a wider product range.[ citation needed ]

Opening of stores in the Netherlands between 1999 and 2001 was not as successful as the company wished.[ citation needed ] The first store in Germany opened on October 4, 2007, in Lübeck. [5]

In August 2008, TK Maxx opened a store on Kensington High Street, London, England, its first central London store, on a site formerly occupied by Habitat. [6] In the following year, TK Maxx became locked in a dispute over its plans to open a store at Piccadilly Circus, London. It had signed an agreement in February 2009 to occupy a 20,000-square-foot (1,858 m2) unit, formerly used by Virgin Megastores and later Zavvi, with a rent of £1.55 million per year. [7]

The freehold to the land is owned by the Crown Estate which had the final decision over allowing the company to move in to the unit. The Crown Estate rejected the plans, saying that it did not fit in with the strategy it had for the site, which was meant to give the area an upmarket appeal. [8]

The decision was met with condemnation from publicist Max Clifford, who launched a campaign in conjunction with Look to persuade the Crown Estate to allow the store to open in the unit. [9] A court appeal by TK Maxx against the decision failed; [10] Dutch retailer The Sting took the building as their first store in the United Kingdom. [11]

In March 2009, the TK Maxx e-commerce site was launched, initially selling only handbags, but later also selling other accessories. [12] In October 2015, the first Dutch store opened in Eindhoven. Followed by two more stores in Groningen and Rotterdam.

In April 2017, the brand was launched in Australia, when it took over the thirty five Trade Secret discount department stores. The stores opened in April in Brisbane, Sydney and Melbourne with stores in Cairns, Townsville, Toowoomba, Canberra, Newcastle, Wollongong, Albury, the Sunshine Coast and the Gold Coast by the end of May. [13]

In November 2018, a mass brawl between hostile extended families took place in Osnabrück. [14]

Charity work

In June 2007, TK Maxx was an active participant of UK Comic Relief, having been the sole retailer of the Red Nose Day T-shirts which generated £2 million for the Comic Relief cause. [15] In June 2009, TK Maxx was again the sole retailer of the Red Nose Day T-shirts, with exclusive designs by Stella McCartney, raising a total of £3,200,589. [16]

TK Maxx also worked with the Woodland Trust by starting to charge for plastic carrier bags in August 2008 and donating the proceeds to the Trust. The proceeds allowed the Woodland Trust to plant 30,000 new trees on a 15-acre (60,703 m2) site near Elmstead Market, Essex. The usage of carrier bags from TK Maxx dropped by 73% since the scheme was launched.

At the time, shops usually provided free carrier bags; since 2015 a charge, usually donated to charity, is required by law throughout the United Kingdom. Since 2004, TK Maxx has held a Christmas card recycling scheme in conjunction with the Trust. [17] TK Maxx also runs a 'Give Up Clothes For Good' campaign, where customers are encouraged to bring in unwanted clothes for Cancer Research UK. [18] [19]

In Ireland, TK Maxx actively supports Enable Ireland, a charity which helps provide free services to children with disabilities. [20]

Notes

  1. The name is sometimes punctuated as T.K. Maxx or T.K.Maxx, often stylized as T.k.maxx.

Related Research Articles

Marks & Spencer British retail company

Marks and Spencer Group plc is a major British multinational retailer with headquarters in London, England, that specialises in selling clothing, home products and food products. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index, having previously been in the FTSE 100 Index from its creation until 2019.

Marshalls American department store chain

Marshalls is an American chain of off-price department stores owned by TJX Companies. Marshalls has over 1,000 American stores, including larger stores named Marshalls Mega Store, covering 42 states and Puerto Rico, and 61 stores in Canada. Marshalls first expanded into Canada in March 2011.

Woolworths Group (United Kingdom) Defunct British retail company (1909-2009)

Woolworth was a listed British company that owned the High Street retail chain Woolworths. It also owned other companies such as the entertainment distributor Entertainment UK, and book and resource distributor Bertram Books.

Tower Records is an international retail franchise and online music store that was formerly based in Sacramento, California, United States. From 1960 until 2006, Tower operated retail stores in the United States, which closed when Tower Records filed for bankruptcy and liquidation. Tower.com was purchased by a separate entity and was not affected by the retail store closings.

Zayre Defunct discount retailer in the United States

Zayre was a chain of discount stores that operated in the eastern half of the United States from 1956 to 1990. The company's headquarters was in Framingham, Massachusetts. In October 1988, Zayre's parent company, Zayre Corp., sold the stores to the competing Ames Department Stores, Inc. chain, and in June 1989, Zayre Corp. merged with one of its subsidiaries, The TJX Companies, parent company of T.J. Maxx. A number of stores retained the Zayre name until 1990, by which time all stores were either closed or converted into Ames stores.

TJX Companies American multinational discount department store corporation

The TJX Companies, Inc. is an American multinational off-price department store corporation, headquartered in Framingham, Massachusetts. It was formed as a subsidiary of Zayre Corp. in 1987, and became the legal successor to Zayre Corp. following a company reorganization in 1989.

Winners Merchants International L.P is a chain of off-price Canadian department stores owned by TJX Companies.

In the Republic of Ireland, the retail sector provides one of the largest sources of employment in the economy, representing over 12% of the workforce. As of 2017, approximately 40,000 wholesale and retail businesses employed almost 280,000 people in Ireland, with the Department of Enterprise, Trade and Employment reporting that 90% of these businesses were Irish-owned.

TJ Maxx Retail chain

TJ Maxx is an American department store chain, selling at prices generally lower than other major similar stores. It has more than 1,000 stores in the United States, making it one of the largest clothing retailers in the country. TJMaxx is the flagship chain of the TJX Companies. It sells men's, women's and children's apparel and shoes, toys, bath and beauty, accessories, and home products ranging from furniture to kitchen utensils.

T. J. Hughes, registered and styled as TJ Hughes, is a British discount department store brand which first emerged in Liverpool in 1912

AJWright was a chain of about 129 American retail/outlet stores established in 1998 and owned by TJX Companies. Like its sister company T.J. Maxx, AJWright sold clothing, domestics, giftware, footwear, accessories, and fragrances at prices between twenty and seventy percent below regular prices. AJWright differed from other TJX chains by refreshing its merchandise on a regular basis. For most stores, new shipments arrived every weekday. In early 2011, TJX closed the chain's remaining stores and converted some stores to other TJX brands.

HomeGoods American chain of home furnishing stores

HomeGoods is a chain of home furnishing stores headquartered in Framingham, Massachusetts. It was founded as a small chain in 1992, and grew to include hundreds of locations throughout the United States. HomeGoods sells furniture, linens, cooking products, art and other home accessories.

HomeSense Canadian chain of discount home furnishing stores

HomeSense is a Canadian chain of discount home furnishing stores owned by TJX Companies. It originated in Canada in 2001, and was expanded to Europe in 2008 and the United States in 2017. Outside of the United States, the chain is comparable to the TJX-owned HomeGoods. Within the country, where HomeGoods already operates, it features more big ticket items than its sister store.

Sierra (retailer) American off-price retailer

Sierra Trading Post, Inc., doing business as Sierra, is an online and brick-and-mortar retailer of off-price merchandise operated by the TJX Companies. The Framingham, Massachusetts–based company offers products in categories such as outdoor recreation, fitness and adventure gear, and apparel, along with footwear, clothing, and home decor. Sierra sells merchandise through 46 retail stores as of November 2019 and a company website. It carries products from approximately 3,000 name-brand manufacturers.

The Maxx was a retail store operated by the TJX Companies. It was operated by T.J. Maxx, but they did not sell clothes or home furnishings.

Best Buy Europe

Best Buy Europe Distributions Ltd. was a retail joint venture owned by the United States based electronics retailer Best Buy Inc and United Kingdom based mobile phone retailer Carphone Warehouse. The company was formed by Best Buy's purchase of 50% of The Carphone Warehouse's retail division in May 2008. Best Buy branded superstores opened in the United Kingdom beginning on April 30, 2010, with a store in Thurrock, Essex. Best Buy was due to open its first stores in the United Kingdom in 2009, but in March 2009, the firm postponed this until 2010, with plans for up to two hundred stores eventually. Carphone originally intended to open up to two hundred Big Box stores in Europe by 2013, but this goal was reduced to one hundred. On November 6 2011, Carphone Warehouse announced its intention to close the eleven Best Buy "big box" format stores. On 14 January 2012, the Best Buy Europe joint venture was discontinued, with all eleven stores and the transactional website (www.bestbuy.co.uk) closing on that day.

Exchange Ilford Shopping mall in Ilford, England

The Exchange Ilford is the main retail shopping mall of Ilford, east London. It was owned by The Mall Fund for a period of time but has now been sold and reverted to its original name of The Exchange Mall. The Exchange is located on Ilford High Road in the town centre and opened on 6 September 1991.

Off-price is a trading format based on discount pricing. Off-price retailers are independent of manufacturers and buy large volumes of branded goods directly from them. The off-price retail model relies on the purchase of over-produced, or excess, branded goods at a lower price, thus being able to sell to consumers at a discount compared to other stores which purchased an initial run. Among the largest retailers of this type are TJX Companies and Ross Stores. The model is more common in countries that import fashion-oriented or household goods, as the discount role in producer countries is usually filled by factory outlets or small-scale open-air marketplaces.

Trade Secret (Australian company)

Trade Secret was a chain of clothing, accessories and home furnishing stores operated by TJX Companies and had 35 stores across Australia by April 2017. The stores were located in Sydney, Melbourne, Brisbane, Canberra, Newcastle, Wollongong, Cairns, Townsville, Toowoomba, Albury, the Sunshine Coast and the Gold Coast. On 3 February 2017, they announced on their website that they would soon be rebranding all existing locations as T.K. Maxx and opening new locations across the east coast. As of 20 April 2017 the stores were operating as T.K. Maxx.

Southpoint Shopping Centre Shopping mall in Hillsdale, New South Wales

Southpoint Shopping Centre is a shopping centre in the suburb of Hillsdale in the Eastern Suburbs of Sydney.

References

  1. 1 2 "The TJX Companies, Inc. FORM 10-Q".
  2. "T·k·maxx in Europe". Tjx.com. April 20, 2017. Retrieved May 20, 2017.
  3. Hoovers. "The TJX Companies, Inc". Answers.com. Retrieved June 25, 2007.
  4. Joachim Zentes; Dirk. Morschett; Hanna Schramm-Klein (2011). Strategic Retail Management: Text and International Cases. Gabler Verlag. ISBN   9783834967404.
  5. "About TK Maxx". TK Maxx. Retrieved June 25, 2007.
  6. Donati, Marino (August 28, 2008). "Shoppers queue for Kensington TK Maxx". Drapers online. Retrieved September 11, 2009.
  7. Prynn, Jonathan (April 24, 2009). "TK Maxx 'not posh enough' for West End". This Is London. Retrieved September 16, 2009.
  8. Cooper, Ben (April 29, 2009). "TK Maxx 'not posh enough' for Piccadilly". Retail Week. Retrieved September 16, 2009.
  9. "Celebrities back TK Maxx over Piccadilly Circus store". Retail Week. May 1, 2009. Retrieved September 16, 2009.
  10. Duxbury, Nick (May 9, 2009). "TK Maxx Piccadilly store court case brought forward". Property Week. Retrieved September 16, 2009.
  11. "Store locator". The Sting. Retrieved May 20, 2017.
  12. Thompson, James (August 19, 2009). "Discount fashion: Taking it to the Maxx". The Independent. Retrieved September 11, 2009.
  13. Campbell, Leigh (April 11, 2017). "Retail Giant TK Maxx Is Launching In Australia". Huff Post.
  14. "Massenschlägerei am "Black Friday" bei TK Maxx: Großfamilien gehen aufeinander los". November 24, 2018.
  15. "Red Nose Day Partners". Comic Relief. June 25, 2007. Archived from the original on March 23, 2007. Retrieved June 25, 2007.
  16. "TK Maxx". Red Nose Day 09. Archived from the original on May 19, 2009. Retrieved September 16, 2009.
  17. "TK Maxx and Woodland Trust working in partnership". Woodland Trust. Retrieved September 16, 2009.
  18. "Community Cancer Research UK - TK Maxx". tkmaxx.com.
  19. "Bag your unwanted quality clothes, drop them off at your local TK Maxx. Raise money for Cancer Research UK!". tkmaxx.com.
  20. Rob Le Boutillier. "Give up Clothes for good - Enable Ireland - TK Maxx Ireland". tkmaxx.ie.