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{{Infobox Company |
{{Infobox Company |
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Revision as of 13:37, 19 May 2009
 | This article needs additional citations for verification. (May 2009) |
| Company type | public |
|---|---|
| Industry | Retail (Department store) |
| Founded | 1838 |
| Fate | Bankruptct |
| Headquarters | , |
Area served | Michigan, Florida, Ohio, Indiana, Kentucky, Kansas |
| Products | Apparel, jewelry, furniture |
Jacobson's is an American regional department store chain. Based in Jackson, Michigan, the chain thrived primarily in Michigan and Florida, but also had stores in Ohio, Indiana, Kentucky and Kansas. Jacobson's focused on apparel, fine jewelry and home furnishings. The chain entered bankruptcy in early 2002 after 134 years of service.
History
The first Jacobson's store was opened by Abram Jacobson in Reed City, Michigan in 1838. It eventually expanded to Ann Arbor, Battle Creek and Jackson, Michigan as well, moving its headquarters to Jackson in 1937.[1] Two years later, Nathan Rosenfeld purchased the company and began expanding it throughout the state and holding the position of chairman until his 1982 death.
In 1945, Rosenfeld hired J. Russell Fowler, a former manager for the Jordan Marsh chain, to manage Jacobson's as well. Under Fowler's management, Jacobson's saw a significant increase in sales and expanded into Florida.[1] Despite declining sales in the 1980s, the chain attempted two prototypes: a more upscale store at Laurel Park Place in Livonia and a discount store in Troy.[1]
1990s
Jacobson's faced further retail decline in the early 1990s. In 1991, the store began operating on Sundays. Previously, Jacobson's stores were closed on Sundays, as it was believed that doing so would help to attract a higher clientele.[1] Also that year, the chain opened a store in Naples, Florida, and moved its flagship from downtown Ann Arbor to a former Lord & Taylor location at Briarwood Mall.[1] A location in Birmingham, Michigan was also renovated to target upscale shoppers in their mid-twenties.[1]
The chain made further changes to its retail line in the 1990s, expanding its plus-size clothing lines and adding other lines catered to younger shoppers. A decision was also made to control the growth of stores, by only opening one or two a year. The chain's first Kentucky location, in Louisville, opened in 1994.[1] In 1995, however, Jacobson's posted its biggest loss since 1977, and as a result, three Metro Detroit locations were closed and thirty-two workers were laid off. In addition, competitors Nordstrom and Parisian had begun opening locations in Detroit, increasing the chain's competition.[1] Nonetheless, Jacobson's opened locations in Leawood, Missouri and Boca Raton, Florida.
By 1997, Jacobson's had twenty-four stores in operation. The chain began to promote its customer service and quality through marketing, and although the Midwestern locations continued to lose money, the Florida stores remained profitable.[1] An East Lansing, Michigan location that opened in 1970 was relocated to a former Service Merchandise at Meridian Mall in nearby Okemos in 2000.[2]
In 2002, however, Jacobson's filed for Chapter 11 bankruptcy protection and closed five stores, including one at The Fashion Mall at Keystone in downtown Indianapolis, Indiana, as well as the Meridian Mall location.[3] After failing to find a buyer, Jacobson's began liquidation on its last remaining stores, and was closed by the end of 2002.[4] In early 2004, Longwood, Florida-based Jake's Stores bought the naming rights and re-established Jacobson's in Florida.[5]
References
- ^ a b c d e f g h i "Jacobson's company history". Funding Universe. Retrieved 2009-05-18.
- ^ Wright, Rachel (2000-10-12). "Jacobson's reopens doors". The State News. Retrieved 2009-05-18.
- ^ Wall, JK (2002-06-29). "Future Appears Cloudy for Michigan-Based Upscale Clothing Chain Jacobson's". The Indianapolis Star. Retrieved 2009-05-18.
- ^ Yue, Lorenne (2002-07-26). "Jacobson Stores' Shutdown Begins". Detroit Free Press. Retrieved 2009-05-18.
- ^ Bott, Jennifer (2004-01-29). "Defunct Jacobson's Name in Retailing May Return in Florida". Detroit Free Press. Retrieved 2009-05-18.
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