Michael Herz

Michael Herz

Owner of the Tchibo holding
Country: Germany

Content:
  1. Biography of Michael Herz
  2. Tchibo - a German Brand
  3. "Stärken stärken 2010" - a New Business Concept

Biography of Michael Herz

Michael Herz, the owner of the "Tchibo" holding, is one of the wealthiest people in Germany. He is a successful businessman with a keen understanding of trade. His fortune is estimated at $2.4 billion by Forbes magazine, placing him at the 258th spot on the list of the world's richest people.

Michael Herz was born in 1946 in Germany. He currently owns the "Tchibo" holding, one of the largest retail companies in Germany. The "Tchibo" holding is also involved in the production of its own products. Several years ago, Michael Herz and his two brothers bought out their sister Daniela's stake in the company for $5 billion.

Tchibo - a German Brand

"Tchibo" is a German brand known for its chain of cafeterias and snack bars, but it is more famous for its retail network. The company offers products such as everyday clothing, electronics, and household appliances. The company's slogan, "New products every week," reflects its commitment to offering a constantly changing range of items. Recently, "Tchibo" expanded its list of products to include services such as travel and life insurance. With 1000 stores, it is one of the largest companies of its kind. Founded in 1949 in Hamburg by Karl Tchilling-Hiryan and Max Herz, the company initially specialized in selling coffee roasted in its own factories. Currently, "Tchibo" collaborates with many countries, including Switzerland, Austria, the United Kingdom, the Netherlands, Poland, the Czech Republic, Turkey, and Russia.

"Stärken stärken 2010" - a New Business Concept

In December 2007, the employees of "Tchibo" were presented with a new business concept called "Stärken stärken 2010" (Strengthening Strengths 2010). The essence of this program is to return to the company's traditions, strength, and growth. Michael Herz also has a stake in a company called "NIVEA." "NIVEA" is one of the largest producers of skin care products and was founded in 1911 by Oscar Troplowitz. The name "NIVEA" comes from the Latin word "niveus," meaning snow-white. In 1997, the company was acquired by Michael Herz. It now produces products such as face and hand creams, body care products, tanning lotions, shaving creams, and shampoos.

The Herz family owns over half of the shares in companies such as "L'Oréal" and "Procter and Gamble." Michael Herz is one of the wealthiest people in Germany, being a successful businessman with a keen understanding of trade. His fortune is estimated at $2.4 billion by Forbes magazine, placing him at the 258th spot on the list of the world's richest people.

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