From a small shoe store back in 1901, Nordstrom is now the world’s retail giant that has been able to sustain such a legacy. It started as a footwear retailer established by John W. Nordstrom and Carl F.
Wallin in Seattle, but it evolved into being the largest independent shoe retailer in the U.S. under John’s three sons.
This growth paved the way for the eventual establishment of a high-end fashion destination that, above all, was a place of quality and excellent service. The Nordstrom family played a significant role in expanding the business with the passing of generations. In the 1970s, the company established clothing and accessories, making it a comprehensive and full-fledged fashion retailer.
The third generation took the company public in 1971. They then established Nordstrom Rack in 1973 as a clearance outlet. This made it easier for Nordstrom to access more customers than before, therefore expanding much more broadly.
The fourth generation of Nordstrom leadership further transformed the brand by embracing e-commerce, propelling Nordstrom into the digital age and ensuring its competitiveness in an increasingly online-driven retail landscape. Today, Nordstrom’s annual sales exceed $13.1 billion, as reported by Forbes, solidifying its place as one of the top retailers in the world.
Family’s Role In $6.25 Billion Acquisition Deal In a shocking move, Nordstrom has agreed to be taken private in a $6.25 billion deal involving the Nordstrom family and a Mexican reta.