The MCM label, which originally stood for Michael Cromer Munich, was founded by Michael Cromer in 1976 in Munich, Germany.[1] The company designed expensive leather suitcases and handbags which became popular during the 1980s for being "ostentatious and flashy."[1] At the height of its popularity in 1993, it owned 250 branches worldwide and recorded sales of $250 million.[1] Following a 1995 investigation of Cromer for alleged tax evasion by German tax authorities, banks and investors lost faith in MCM's financial stability.[2] In 1997, the company was restructured, and its stores and trademark rights were split and sold.[2]