Steimatzky
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| Formerly | Steimatzky Middle East Agency |
|---|---|
| Founded | first store, 1920 in Tel Aviv chain, 1925 in Jerusalem Mandatory Palestine |
| Founders | Tzvi Steimatzky (1920) Yechezkel Steimatzky (1925) |
| Headquarters | Kiryat Aryeh, , |
Number of locations | 140 (September 2017) |
Area served | Israel |
| Owner | Group of investors led by G. Yafit |
| Website | steimatzky |
Steimatzky (Template:Lang-he) is the oldest and largest bookstore chain in Israel.
History
1920–1947: Foundation and Steimatzky Middle East Agency
The first store was opened by Tzvi Steimatzky in 1920 in Tel Aviv, 6 Hertzel St. In 1925 his half brother Yechezkel Steimatzky opened the second store on Jaffa Road in Jerusalem. Yechezkel Steimatzky was a Russian-born immigrant from Germany. He had originally come to the British Mandate of Palestine on a short visit for the opening of the Hebrew University of Jerusalem and decided to stay after he saw the potential in opening a foreign language bookstore that would serve a growing immigrants' market as well as British Army soldiers serving under the British Mandate. The concept was so successful that he opened an additional store in Haifa later that year.
In 1927 Steimatzky saw the potential for expansion throughout the Middle East and opened a store in Beirut. The company name was changed to Steimatzky Middle East Agency. During World War II, a Steimatzky store opened in Baghdad next to the British Army base, and soon after in Cairo, Alexandria, and Damascus.
1948–1999: Son Eri replaces Yechezkel Steimatzky
The Middle Eastern expansion came to a halt with the outbreak of the 1948 Arab–Israeli war and the nationalization of all branches in Beirut, Baghdad, Cairo and Damascus.[1] By 1948 another store opened on Allenby Street in Tel Aviv.
In 1963 the son of founder Yechezkel, Eri Steimatzky, joined the company and became its general manager. A period of expansion followed.
In 1995 the Steimatzky company purchased the Sifri chain with seven stores. The chain was a virtual monopoly in Israel until 2002.
2000s: Acquisition by Markstone Capital Partners
In 2002 two smaller competitors (Tzomet Sfarim, Yerid Hasfarim) and Modan Publishing House united under the Tzomet Sfarim brand, operating about 40 stores. In 2004 Steimatzky merged with Keter Publishing House.
In 2005 Markstone Capital Partners purchased the company.[2] In 2006, Steimatzky operated stores in 68 cities in Israel as well as in London and Los Angeles. It was estimated that the company holds a 40% share in the Israeli book retailing market and employs over 700 people worldwide. In September 2007, Eri Steimatzky announced his retirement from the chain, leaving the company in the hands of Markstone Capital.
2010s: Acquisition by G. Yafit and partners
In 2010 Steimatzky operated over 160 stores across Israel in various formats. These include mall-based stores, stores with coffee shops, extensive non-book offerings, and larger formats. In June 2014 Steimatzky was acquired by a group of investors led by G. Yafit.
By September 2017 the gap between Steimatzky and its main competitor, Tzomet Sfarim, is closing. Steimatzky reduced its number of branches to 140, Tzomet Sfarim upped to 96.[3] On 3 October 2018, Tzomet Sfarim was down to 95 branches. Steimatzky was unchanged.
References
- ^ [1] [dead link]
- ^ "Steimatzky CEO seeking consortium to buy the company". Haaretz.com. 14 March 2012. Retrieved 2013-04-15.
- ^ "בוקנט חנות הספרים באינטרנט של רשת צומת ספרים". Booknet.co.il. Retrieved 17 August 2019.