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{{Infobox company
{{Infobox company
| name = Steen & Strøm AS
| name = Steen & Strøm ASA
| logo = Steen & Strøm logo.png
| logo = Steen & Strøm logo.png
| type = [[Public company|Public]]
| type = [[Public company|Public]]
Line 6: Line 6:
| founder =
| founder =
| location = [[Oslo]], [[Norway]]
| location = [[Oslo]], [[Norway]]
| key_people = Louis Bonelli: Chief Executive Officer, Ketil Wold: COO Norway, Laurence Weydert: COO Denmark & Sweden
| key_people = [[Marie Congnac]] <small>[[Chief Executive Officer|(CEO)]]</small><br>[[Peter Arne Ruzicka]] <small>[[Chair (official)|(Chairman)]]</small>
| area_served = [[Scandinavia]]
| area_served = [[Scandinavia]]
| industry = [[Real estate]]
| industry = [[Real estate]]
| products = [[Shopping centre]]s
| products = [[Shopping centre]]s
| services =
| services =
| revenue = {{profit}} [[Norwegian krone|NOK]] 2,010 million (2006)

| operating_income = NOK 1,762 million (2006)
| net_income = NOK 1,084 million (2006)
| num_employees = 252 (2007)
| parent =
| parent =
| subsid =
| subsid =
| homepage = [http://www.steenstrom.com]
| homepage = [http://www.steenstrom.no www.steenstrom.no]
| footnotes =
| footnotes =
| international = yes
}}
}}


'''Steen & Strøm''' is a Scandinavian [[retail]] and [[real estate]] company that owns and operates 18 [[shopping centre]]s in [[Norway]], [[Sweden]] and [[Denmark]]. The centers have 1 600 stores and are visited by 90 million guests annually and boasts a turnover of close to 3 billion euro.
'''Steen & Strøm''' is a Scandinavian [[retail]] and [[real estate]] company that owns and operates 10 [[shopping centre]]s in Norway, Sweden and Denmark.


It has been a member of the [[International Association of Department Stores]] from 1940 to 1992, with various CEOs acting as presidents of the Association over time.<ref>{{Cite web|title=IADS Presidents|url=https://www.iads.org/web/home-public/2303-iads-presidents.php|access-date=2021-04-22|website=www.iads.org}}</ref>
Klépierre and APG Pension Fund bought Steen & Strøm, July 28, 2008 for NOK 21.9 billion. Klépierre owns 56.1 percent of the company, while the Dutch Pension Fund APG owns 43.9 percent. Steen & Strøm is a fully integrated company in Klépierre, Europe's leading player in the shopping center industry with its more than 100 centers in 16 countries.

The company has launched a comprehensive program for environmental and social responsibility and is honored as one the most sustainable shopping centers in Europe. All centers are ISO 14001 certified.


==History==
==History==
The company was founded in 1797 when [[Samuel Strøm]] started a wine shop and [[general store]] in Oslo. When he died in 1818, the store was taken over by his widow [[Else Strøm]], then their common son [[Christian Strøm (business)|Christian Strøm]] in 1829. In 1856 Christian Strøm, shortly before his death, passed it on to his nephew and adoptive son [[Samuel Strøm Jr.]] (son of Søren Strøm) and the husband of his adoptive daughter (Ovidia born Jebe) [[Emil Steen (1829–1884)|Emil Steen]]. The name Steen & Strøm was then established. Samuel Strøm Jr. died in 1876, and Emil Steen brought the widow of Samuel Jr [[Augusta Strøm]] on board as partner. In 1884 the next generation took over, with [[Christian Steen (business, older)|Christian Steen]], [[Johan Steen]] and [[Christian Strøm Jr.]] as partners. The next generation after that entered the company with [[Erling Steen]] and [[Eyvind Strøm]] in 1914; and [[Nils Steen]] in 1919. The three took over the company in the 1930s.<ref name=125y>{{cite news|title=Steen & Strøm har idag bestaaet i 125 aar|date=13 July 1922|work=[[Aftenposten Aften]]|page=1}}</ref><ref name=150y>{{cite news|title=150 år på samme tomt|date=8 October 1947|work=[[Aftenposten]]|page=5}}</ref> Another family member [[Emil Steen (1887–1950)|Emil Steen]] was just a board member, but his son [[Christian Steen (business)|Christian Steen]] became chief executive in 1964.<ref>{{cite news|title=Dødsfall|date=31 October 1950|work=[[Aftenposten]]|page=5}}</ref><ref>{{cite encyclopedia|year=1973|title=Steen, Christian|encyclopedia=[[Hvem er hvem?]]|editor=Steenstrup, Bjørn|publisher=Aschehoug|location=Oslo|url=https://runeberg.org/hvemerhvem/1973/0526.html|page=526|language=Norwegian|access-date=23 December 2011}}</ref>
Today
Steen & Strøm has 18 shoppingcenters in Denmark, Norway and Sweden


In 1874 the company built the first [[department store]] in Norway, but it was destroyed in a fire in 1929. By 1930 a brand new store had been rebuilt, with architectural inspiration from Paris. In 1991 Agora Drift AS took over the management of Steen & Strøm, as well as five other shopping centres and three hotels, and started expanding.
2014
Merger between Klépierre and Corio (57 shoppingcenters in the Netherlands, Germany, Turkey, France, Italy, Portugal and Spain). The merger resulted in Klépierre owing 179 shoppingcenters in 16 countries


In July 1994 the company was listed on the [[Oslo Stock Exchange]], but delisted again in September 2007 after [[Stein Erik Hagen]] had bought out the other owners, at the time [[Canica]] (49,9%), [[Storebrand]] (12.9%), [[Orkla Group|Orkla]] (10.3%), [[Stein Erik Hagen]] (5.9%) and [[Varner-Gruppen]] (5.5%). In 2008 the company was sold for NOK 21.9 billion to [[Klépierre]] (56.1%) and [[ABP Pension Fund]] (43.9%).<ref>{{cite web |url=http://e24.no/boers-og-finans/article2563972.ece#AF |title=Hagen har solgt Steen & Strøm |author=E24 Næringsliv |author-link=E24 Næringsliv |date=2008-07-28 |language=Norwegian}}</ref>
2012
The world’s largest real estate company Simon Property Group acquires a 28.7% stake in Klépierre and becomes main shareholder


⚫
==References==
2008
{{Reflist}}
Canica AS sold all it shares in Steen & Strøm ASA to French Klépierre and the Dutch Pension Fund APG


{{Authority control}}
2000
Sale of all the eastern European activities. Only focus on management of Scandinavian shoppingcenters

1999
Steen & Strøm ASA expanded to Denmark, Sweden, Poland and the Czech Republic. In Sweden the expansion was realized through the acquisition of the shoppingcenter company Centrum Invest A/S
In Denmark the expansion was realized through the acquisition of Foras Ejendomme AS. At the same time Foras sold its shoppingcenter portfolio to Danica Pension whom Steen & Strøm entered a total management agreement with to manage all it shoppingcenters
Scandinavia’s leading owner and manager of shoppingcentres, with 42 shoppingcentres in Norway, Sweden and Denmark

1997
Celebration of 200th anniversary

1994
Establishment of Steen & Strøm Holding AS

1991
Agora Drifts A/S took over management of Steen & Strøm Magasin (department store) and a further five shoppingcentres and three hotels

1874
Steen & Strøm expanded to Norway’s first modern department store

1797
Founding of Steen & Strøm in Norway

⚫
==References==
{{reflist}}


{{DEFAULTSORT:Steen and Strom}}
{{DEFAULTSORT:Steen and Strom}}
[[Category:Real estate companies of Norway]]
[[Category:Real estate companies of Norway]]
⚫
[[Category:Retail companies established in 1797]]
[[Category:Companies formerly listed on the Oslo Stock Exchange]]
[[Category:Companies formerly listed on the Oslo Stock Exchange]]
⚫
[[Category:Companies established in 1797]]

Latest revision as of 10:53, 14 November 2024

Steen & Strøm ASA
Company typePublic
IndustryReal estate
Founded1797
HeadquartersOslo, Norway
Area served
Scandinavia
Key people
Marie Congnac (CEO)
Peter Arne Ruzicka (Chairman)
ProductsShopping centres
RevenueIncrease NOK 2,010 million (2006)
NOK 1,762 million (2006)
NOK 1,084 million (2006)
Number of employees
252 (2007)
Websitewww.steenstrom.no

Steen & Strøm is a Scandinavian retail and real estate company that owns and operates 10 shopping centres in Norway, Sweden and Denmark.

It has been a member of the International Association of Department Stores from 1940 to 1992, with various CEOs acting as presidents of the Association over time.[1]

History

[edit]

The company was founded in 1797 when Samuel Strøm started a wine shop and general store in Oslo. When he died in 1818, the store was taken over by his widow Else Strøm, then their common son Christian Strøm in 1829. In 1856 Christian Strøm, shortly before his death, passed it on to his nephew and adoptive son Samuel Strøm Jr. (son of Søren Strøm) and the husband of his adoptive daughter (Ovidia born Jebe) Emil Steen. The name Steen & Strøm was then established. Samuel Strøm Jr. died in 1876, and Emil Steen brought the widow of Samuel Jr Augusta Strøm on board as partner. In 1884 the next generation took over, with Christian Steen, Johan Steen and Christian Strøm Jr. as partners. The next generation after that entered the company with Erling Steen and Eyvind Strøm in 1914; and Nils Steen in 1919. The three took over the company in the 1930s.[2][3] Another family member Emil Steen was just a board member, but his son Christian Steen became chief executive in 1964.[4][5]

In 1874 the company built the first department store in Norway, but it was destroyed in a fire in 1929. By 1930 a brand new store had been rebuilt, with architectural inspiration from Paris. In 1991 Agora Drift AS took over the management of Steen & Strøm, as well as five other shopping centres and three hotels, and started expanding.

In July 1994 the company was listed on the Oslo Stock Exchange, but delisted again in September 2007 after Stein Erik Hagen had bought out the other owners, at the time Canica (49,9%), Storebrand (12.9%), Orkla (10.3%), Stein Erik Hagen (5.9%) and Varner-Gruppen (5.5%). In 2008 the company was sold for NOK 21.9 billion to Klépierre (56.1%) and ABP Pension Fund (43.9%).[6]

References

[edit]
  1. ^ "IADS Presidents". www.iads.org. Retrieved 2021-04-22.
  2. ^ "Steen & Strøm har idag bestaaet i 125 aar". Aftenposten Aften. 13 July 1922. p. 1.
  3. ^ "150 år på samme tomt". Aftenposten. 8 October 1947. p. 5.
  4. ^ "Dødsfall". Aftenposten. 31 October 1950. p. 5.
  5. ^ Steenstrup, Bjørn, ed. (1973). "Steen, Christian". Hvem er hvem? (in Norwegian). Oslo: Aschehoug. p. 526. Retrieved 23 December 2011.
  6. ^ E24 Næringsliv (2008-07-28). "Hagen har solgt Steen & Strøm" (in Norwegian).{{cite web}}: CS1 maint: numeric names: authors list (link)
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