Bruce Nordstrom, of the department-store dynasty, has died. Here's how the Nordstrom family built their empire.

Mon, 05/20/2024 - 15:42

Nordstrom department store entrance — Shoppers visit a Nordstrom store.
Brandon Bell/Getty Images

Bruce Nordstrom, former chairman of the family-run department store chain, has died.
His grandfather started the business in 1901, which later grew into a fashion empire.
Nordstrom's two living sons, Pete and Erik, are the company's President and CEO, respectively.

Bruce Nordstrom, the former chairman of the eponymous department store chain, has died at the age of 90.

Grandson of founder John W. Nordstrom, Bruce was instrumental in bringing the retailer to international prominence in a career that spanned four decades.

Bruce's eldest son Blake died in 2019 after a bout with lymphoma, and his two living sons, Pete and Erik, are now the company's President and CEO, respectively.

Here's how the Nordstroms built their empire from a single shoe store in Seattle to one of the biggest names in fashion retail.

Nordstrom was founded as a shoe store by John W. Nordstrom and Carl F. Wallin in Seattle in 1901.

Nordstrom 4 — A Nordstrom sign showing the year the company started.
Shutterstock

Two decades later, the partners opened a second store in Seattle's University District.

John Nordstrom retired in 1928 and sold his share to his sons Everett and Elmer.

Nordstrom 3 — A Portland, Oregon, Nordstrom store in 2015.
Shutterstock

Wallin retired soon after and sold his share of the company to the Nordstrom sons too. John's third son, Lloyd, later joined the team.

John Nordstrom's sons focused on expanding into women's clothing.

nordstrom 0680 — Mannequins at a Nordstrom department store.
Business Insider/Jessica Tyler

Nordstrom purchased the Seattle-based clothing store Best's Apparel in 1963. Three years later, the company purchased a Portland, Oregon-based clothing store and began offering both shoes and apparel under the name Nordstrom Best. The company added men's and children's apparel in 1966.

In 1968, the three Nordstrom brothers handed the company over to the next generation.

bruce nordstrom 3 — Bruce Nordstrom.
Getty Images

Everett's son Bruce, Elmer's sons James and John, Lloyd's son-in-law Jack, and family friend Bob Bender became the new heads of the company. The third generation of Nordstrom chairmen took the company public in 1971, formally renaming it Nordstrom Inc.

The first Nordstrom Rack opened in the basement of the downtown Seattle store in 1973.

That same year, the company became the largest-volume fashion specialty store on the West Coast, with sales surpassing $100 million. The chain continued to expand throughout the next several decades.

In 1995, Nordstrom's third generation handed the reins over to the fourth.

Blake, Pete, Erik, and Jamie Nordstrom smile for camera at Nordstrom store opening — Blake, Pete, Erik, and Jamie Nordstrom in 2007.
John Wilcox/MediaNews Group/Boston Herald via Getty Images

The elder Nordstroms retired as co-chairmen, but remained on the Board of Directors, and Bruce's sons, Blake, Pete, and Erik, took over the company in 1995.

Bruce's oldest son Blake became co-president in 1995.

blake nordstrom — Vince Talotta/Toronto Star via Getty Images

Blake began working in the family business when he was about 11 years old. His first role with the company was in the stockroom, and he went on to hold many roles with the company, including merchandise buyer, regional manager, and then vice president in charge of stores in Washington and Alaska.

Erik Nordstrom worked for his older brother in various positions at the company as the two rose through the ranks together.

Blake Erik Nordstrom — Blake and Erik Nordstrom.
Getty Images

"It was always the best working for my brother because he had more confidence in me and gave me more autonomy than anybody I had ever worked for," Erik Nordstrom said in his father's 2007 book, "Leave It Better Than You Found It."

Bruce returned as chairman in 2000, retiring for a second time in 2006.

Bruce and his sons were credited with turning the company around after several years of underperformance by non-family leadership.

Throughout the 2000s, Nordstrom partnered with fashion brands like Façonnable, Topshop, HauteLook, and Jeffery.

nordstrom 0657 — A store display of Topshop apparel and accessories.
Business Insider/Jessica Tyler

And in 2014, the company started expanding internationally. It opened stores in Canada and Puerto Rico.

Nordstrom opened its first menswear-only store in 2018, and a flagship womenswear store in 2019.

Nordstrom men's — Nordstrom's menswear shop.
Business Insider/Mary Hanbury

The concept combines in-store services such as tailoring, shoe shining, and food, with high-tech digital ordering and returns systems.

Blake died in 2019 at the age of 58, passing control of the company to his brothers.

Blake Nordstrom stands with arms resting on racks of clothes at Nordstrom Rack — Blake Nordstrom at a Nordstrom Rack in 2018.
Vince Talotta/Toronto Star via Getty Images

"Blake was the best big brother, friend and mentor anyone could ever ask for," Pete and Erik Nordstrom said in a note to employees. "One of the things that brings us some comfort is that Blake's values, character and passion can still be reflected in what this company does – how we treat each other, our customers and our communities. Building on that is the best way we can think of to honor his legacy."

In April, Pete and Erik revealed that the company is exploring options to go private.

Erik and Pete Nordstrom stand in front of Nordstrom backdrop during red carpet event — Erik, left, and Pete Nordstrom in 2012.
Frank Franklin II/AP

In regulatory filings, the brother said they had not yet received any financing commitments to complete such a deal.

In May, Bruce died at his home at the age of 90.

Bruce Nordstrom2 — Bruce Nordstrom in 2018.
Getty Images

Nordstrom died on May 18.

"Our dad leaves a powerful legacy as a legendary business leader, a generous community citizen and a loyal friend," Pete and Erik said in a statement.

Jessica Tyler contributed to an earlier version of this story.

Read the original article on Business Insider

Retail, Careers, Features, Retail, Nordstrom, bi-select, visual-features

Source

Bruce Nordstrom, of the department-store dynasty, has died. Here's how the Nord…