Union Square
 | |
Native name | Frakanic: Square de l'Union Norgsveltian: Union Square |
|---|---|
| Industry | Retail |
| Headquarters | , |
Area served | Worldwide |
| Products | Food, drinks, groceries, clothing, footwear, beauty products, jewelry, accessories, furniture, decor, bedding, bath, electronics, appliances, housewares, toys, games, books, movies, musical instruments, pet supplies, baby products, hygiene products, health products, school and office supplies, tools, gifts, garden center, pharmacy, photo center, and auto center |
| Services | Union Remittances and Financial Transfers |
| Revenue |  Ø12,22.6 billion $611.3 billion (2022) |
 Ø40.8 billion $20.4 billion (2022) | |
| Ø22.58 billion $11.29 billion (2022) | |
| Total assets | Ø486.9 billion $243.45 billion (2022) |
| Total equity | Ø167.5 billion $83.754 billion (2022) |
Number of employees | 2,300,000 (2023) |
Union Square is a multinational retail company, it is the largest hypermarket chain within all members of the Norgsveltian Crown Realm and one of the largest employers in Norgsveldet proper. It is structured in the form of a co-operative federation with more than two million members. It’s headquarters is in Osfjord, Norgsveldet.
The company was a merger between Federation of the Southern Coast retail giant Workers’ Store and Norgsveldet Coop Krone in 1950. After a series of negotiations between the two large retail cooperatives, ending the rivalry between the two firms. During which merger the Norgsveltian and Federation governments had to sign off on, due to the concern of a monopoly in the retail market being formed.
Currently Union Square is operating in twelve countries, with plans to expand into Borea. Out of those countries, it is the largest hypermarket chain in Federation of the Southern Coast, Norgsveldet, Vakrestrender, Eyjaria and Kaldrbuth. As of First of January 2023, Union Square has 11,571 stores.
Union Square is the world’s largest retail cooperative by revenue and employees. It is also one of the largest private employers in the world. Despite several votes by the Union Square’s council of regional elected board members and direct voting by employees throughout the years the cooperative refuses to be listed on any stock exchange.
History
Workers’ Store and Coop Krone through the 30s and 40s maintain a friendly rivalry towards each other. However in the 50s, the both sides held a meeting with each other about merging the cooperative federations together, later putting it to a vote by the employees of both firms. The merger was voted on and accepted by the majority of employees, however Norgsveltian and Côtois governments held concerns about the monopoly that would form. However after six months of investigation, court hearings and the public pressure the two governments approved of the merger.
The combined resources pushed a new wave of expansion, specifically targeting Norgsveltian Crown Realm. Through the 60s, the cooperative aggressive expansion resulted in mostly success stories. With over a thousand new stores being opened through the decade, and increasing the amount of services given at select stores. Such as glasses stores, small restaurants and financial services centers.
With the emergence of the North Concordian Economic Forum in the early 90s, the new ease of commerce between more nations. The council of Union Square voted on expanding outside of the Crown Realm and into the NCEF, first starting with Kaldrbuth and Atlalandr. While Kaldrbuth proved to be an overly whelming success when compared to Atlalandr. The Atlalandr government was concerned about possible socialist involvement of the firm, and placed several restrictions on the company. The restrictions were later lifted in 2015, after an agreement was made between the council of the Union Square and the Atlandian Finance Minister, Henrete Kalkvitser. With the agreement ensuring that no funding would be given to any socialist party by the company. Which became a controversial agreement among the Atlalandian far right, and is still a matter of division in the current coalition government.
Philosophy
During the merger there were concerns about the conflicting philosophy and mission between the two retail giants. The largest being Coop Krone religious nature vs Workers’ Store secularist belief. An agreement came to accord, with religious books allowed to be sold but only in special sections of the store in the far back. Union Square upholds the new mission state and philosophy on its website. The summary of the belief is below.
- Tobacco, alcoholic beverages and religious books are placed in the far back of the store, and it is not allowed to be advertised that they are sold.
- Hard liquor is banned from being sold in stores.
- Organized as a co-operative.
- Regional co-operatives, every two years must re-evaluate wages paid and price on products being sold in the stores in order to match living expenses within the country.
- Every employee, part time or full time receives a share, votes in the general assembly and receives a portion of the profits from the store (or department) they are working in.
- Uses a minimum of 1% of its revenue to social, cultural or otherwise community benefiting projects.
Operating Division and Structure
Union Square is organized via a national federations, which is made up from regional federations, and regional federations made up by stores themselves. Each National Federation sends an elect respective to the council, alongside key members of the Union Square cooperative proper. The general assembly of Union Square is made up by employees of the company, which vote on issues put forward by the council of Union Square.