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biography
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| A family of American retailers: Adam was a German immigrant who opened ‘The Palace of Trade’ in Vincennes, IN (1842) and attracted clientele with the promise of ‘customer satisfaction’. He moved to Philadelphia (1865) leaving the store to his eldest son Jacob. The second son, Isaac (1856–1931), born in Vincennes, IN, began as a clerk at age 13. All eight of Adam's sons went into the retail business together, opening successful stores named Gimbel Brothers, in Milwaukee (1889) and Philadelphia (1894). They expanded to New York City (1910), where Isaac became manager. In 1922, persuaded by Isaac's son Bernard (1885–1966), the brothers incorporated as Gimbel Brothers, Inc, with Isaac as president until succeeded by Bernard (1927). Bernard persuaded Gimbel Brothers to acquire two Saks & Co stores (1922), which kept their name, and Pittsburgh's Kaufmann & Baer (1925). By Isaac's death, the Gimbels owned seven stores, with $123 million in sales and 20 000 employees. |
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