Kevin David Lehmann Ascends as Owner of dm: A Legacy of Care and Growth in Germany's Drugstore Market

The low-profile Kevin David Lehmann has become the outright owner of dm (Drogerie Markt), one of Germany's leading drugstore chains that generates around 14 billion euros in sales a year and has over 4,000 stores across Europe, by acquiring a 50% stake for $2.9 billion. The firm generated revenues close to $17 billion in 2023, making an impression in the industry.

dm, short for Drogerie Markt, was founded in 1973 when Goetz Werner opened his first branch in Karlsruhe, Germany. Fast forward to today, and dm towers with about 3,700 locations in the region.

The rise of Kevin David Lehmann traced its way back to when his father, Guenther Lehmann, caretaker of his family’s Pfannkuch grocery chain, took a leap of faith and invested in dm in 1974. But the passing of the baton had actually already happened quietly in 2017, when Guenther passed on his 50% stake in dm to his son, Kevin David, in a subtle change of ownership dynamics.

Despite their power, Kevin David and his father have not taken on operational roles at dm and have kept a low profile in the corporate world. Much about their private lives is still shrouded in mystery. Spirit of dm's philosophy: Their own philosophy, placing their own employees' well-being at the center of the company's success, is a relatively well-known and widely celebrated principle in German-speaking countries.

In addition to the story mentioned above, Goetz Werner, the founder of dm, transferred his half of the shares to a charitable foundation and passed management over to his son Christoph, who has been a proven member of DM’s management board since 2011 and now guides the company to even greater successes and innovations.