- The founding family of Nordstrom takes the private retail chain with the help of a Mexican retailer.
- Bruce Nordstrom, whose grandfather started the department store in 1901, died last year.
- Here’s how Nordstrom went from a single place to Seattle in a fashion empire.
The descendants of John W. Nordstrom are in the last stages of taking the private eponymous store chain.
The great-grandchildren of Nordstrom, Pete and Erik, who are now the president and chief executive officer of the company, respectively, work with the cousin Jamie Nordstrom, the director of merchandise of the company, and the Mexican retailer El Puerto de Liverpool to buy the company in an agreement which gives Nordstrom a corporate value of $ 6.25 billion.
Last year, Pete and Erik’s father Bruce died at the age of 90 after a long career in the company.
The grandson of the founder John W. Nordstrom, Bruce helped bring the retailer to an international importance in a career that lasted four decades.
Here is how the Nordstroms built their empire from a single shoe store in Seattle to one of the biggest names in the retail of fashion.
businessinsider
