Bernard Gimbel
Bernard Gimbel | |
|---|---|
.jpg) Gimbel in 1925 | |
| Born | April 10, 1885 |
| Died | September 29, 1966 (aged 81) |
| Education | University of Pennsylvania (B.A.) |
| Spouse | Alva Bernheimer |
| Children | Bruce Alva Gimbel Peter Gimbel David Alva Gimbel Hope Gimbel Solinger Caral Gimbel Greenberg |
| Parent(s) | Rachel Feustman Gimbel Isaac Gimbel |
| Family | Adam Gimbel (grandfather) Hank Greenberg (son-in-law) Edward Lasker (son-in-law) Lynn Stern (granddaughter) Stephen Greenberg (grandson) |
Bernard Feustman Gimbel (April 10, 1885 – September 29, 1966) was an American businessman and president of the Gimbels department store.[1]
Biography
[edit]Gimbel was born to Jewish parents, Rachel (née Feustman) and Isaac Gimbel,[2][3] son of Adam Gimbel, founder of the Gimbels chain of department stores.[2][4] In 1907, he graduated from the University of Pennsylvania.[2] He started as a shipping clerk for his family's company and worked his way up to vice president in 1909.[2]
In 1910, Gimbel convinced his family to open a department store in New York City at the cost of $17 million ($425 million in 2013 dollars).[2] In 1922, he convinced his family to list Gimbels on the New York Stock Exchange although with the family maintaining a controlling interest.[2] In 1923, Gimbels purchased a controlling interest in Saks Fifth Avenue for $8 million from Horace Saks, son of Andrew Saks,[2] using the money from the Gimbel's stock issuance.[5] Also in 1923, Gimbels purchased the Kaufmann & Baer store in Pittsburgh (Kaufmann & Baer was founded by the cousins of the Kaufmann's department store also in Pittsburgh).[2] In 1924, he brought the Gimbels Thanksgiving Day Parade (which his family had sponsored in Philadelphia since 1920) to New York City.[2] After Horace Saks died in 1926, he appointed his cousin Adam Long Gimbel (son of Charles Gimbel, the husband of Sophie Gimbel).[5]
In 1926, Gimbel took over the company after his father was partially paralyzed after being thrown from a horse.[2] While president, he targeted his rival Macy's which was featured in the movie Miracle on 34th Street,[2] and expanded the Saks brand nationally.[2] In 1930, the company operated 20 stores with $123 million in sales ($1.7 billion in 2013 dollars), the largest department store chain in the world. Prior to World War II, Gimbel stocked up on consumer products he felt would be scarce if a war were to erupt, which paid off handsomely later.[2] In 1953, Gimbel retired handing control to his son Bruce Alva Gimbel; at the time, Gimbel's had $300 million in sales.[2]
Gimbels later was purchased by the Batus Retail Group and then the brand was retired in 1986.[2]
Personal life
[edit]In 1912, Gimbel married 18 year old Alva Bernheimer; they had five children: Bruce Alva Gimbel; twins Peter Gimbel and David Gimbel; and twins Hope Gimbel and Caral Gimbel.[6] His daughter Hope was married and divorced from art collector David M. Solinger[7][8] (their daughter, Lynn Stern, a photographer married architect Robert A. M. Stern). His daughter Caral was married and divorced from Edward Lasker, son of Albert Lasker; and baseball superstar Hank Greenberg, before settling down with World War II hero Joseph M. Lebworth.[9][10][11] His son David Alva died of cancer at the age of 29.[12][13]
Gimbel died in 1966.[2] Services were held at Temple Emanu-El in Manhattan.[14]
References
[edit]- ^ "Bernard F. Gimbel - Gimbel Brothers Department Stores 1925–1953". Harvard Business School. Retrieved January 11, 2018.
- ^ a b c d e f g h i j k l m n o p Smith, Scott S. (November 27, 2013). "Bernard Gimbel, A Force Behind Thanksgiving Parade". Investor's Business Daily.
- ^ Harris, Leon. Merchant Prince: An Intimate History of Jewish Families Who Built Great Department Stores. pp. 69–90.
- ^ "Isaac Gimbel Dies at 74 -Founder of Big Store Here". The Wisconsin Jewish Chronicle. April 17, 1931.
- ^ a b Harris, p. 79
- ^ "How to Make Millions - Nobody But Nobody Knows How to do the Two Better than the Boss of plain Old Gimbels". Life. December 12, 1949.
- ^ "Deaths Lebworth, Caral Gimbel". The New York Times. September 30, 2008.
- ^ Vogel, Carol (October 30, 1996). "David Solinger, 90, Art Collector And Whitney Museum President". The New York Times.
- ^ Wadler, Joyce (May 15, 2002). "Public Lives: Being Rich Is Grand; Getting Old Is Getting Old". The New York Times.
- ^ "Deaths Lebworth, M. Joseph". The New York Times. May 22, 2008.
- ^ Snodgrass, Mary Ellen (2014). World Clothing and Fashion: An Encyclopedia of History, Culture, and Social Influence. Routledge. pp. 273–275. ISBN 9781315698045.
- ^ "David Alva Gimbel Dies of Cancer at 29; Son of Store Head Was Investment Aide". The New York Times. July 8, 1957.
- ^ "Lesley Bush‐Brown Is Married On L.I. to Thomas S.T. Gimbel". The New York Times. October 7, 1979.
- ^ "Bernard F. Gimbel Dies, Aged 81; Rites at Temple Emanuel Sunday". Jewish Telegraph Agency. September 30, 1966.
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