Bernard Gimbel facts for kids
Quick facts for kids
Bernard Gimbel
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Gimbel in 1925
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Bernard Feustman Gimbel
1885 |
| Died | 1966 (aged 80–81) |
| Nationality | American |
| Education | B.A. University of Pennsylvania |
| Spouse(s) | 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) Glenn H. Greenberg (grandson) |
Bernard Feustman Gimbel (born April 10, 1885 – died September 29, 1966) was an important American businessman. He was the president of the famous Gimbels department store.
Contents
Bernard Gimbel's Life and Business
Early Life and Career Start
Bernard Gimbel was born into a Jewish family. His parents were Rachel and Isaac Gimbel. His grandfather, Adam Gimbel, started the Gimbels chain of department stores. Bernard graduated from the University of Pennsylvania in 1907. He began working for his family's company as a shipping clerk. He quickly moved up and became a vice president by 1909.
Expanding the Gimbels Empire
In 1910, Bernard convinced his family to open a large Gimbels store in New York City. This store cost $17 million at the time. By 1922, he also convinced his family to list Gimbels on the New York Stock Exchange. This meant people could buy shares in the company. The Gimbel family, however, kept most of the control.
In 1923, Gimbels bought a big part of Saks Fifth Avenue for $8 million. This was a very fancy department store. Gimbels also bought the Kaufmann & Baer store in Pittsburgh that same year.
Bringing the Thanksgiving Day Parade to New York
In 1924, Bernard Gimbel brought the Gimbels Thanksgiving Day Parade to New York City. His family had already sponsored this parade in Philadelphia since 1920. This parade later became very famous. After Horace Saks passed away in 1926, Bernard appointed his cousin, Adam Long Gimbel, to lead Saks Fifth Avenue.
Leading Gimbels to Success
Bernard took over the company in 1926 after his father had an accident. As president, he worked hard to compete with Macy's, another big department store. Macy's was even featured in the movie Miracle on 34th Street. Bernard also helped the Saks brand grow across the country.
By 1930, Gimbels was the largest department store chain in the world. It had 20 stores and made $123 million in sales. Before World War II, Bernard made a smart business move. He bought many consumer products that he thought would be hard to find later. This decision helped the company a lot during the war.
In 1953, Bernard Gimbel retired. His son, Bruce Alva Gimbel, took over the company. At that time, Gimbels was making $300 million in sales. The Gimbels stores were later bought by the Batus Retail Group. The Gimbels brand eventually closed down in 1986.
Family Life
In 1912, Bernard Gimbel married Alva Bernheimer. They had five children together. Their children were Bruce Alva Gimbel; twins Peter Gimbel and David Gimbel; and twins Hope Gimbel and Caral Gimbel.
His daughter Hope married David M. Solinger. Their daughter, Lynn Stern, became a photographer. His daughter Caral married Edward Lasker and later Hank Greenberg, a famous baseball player. She then married Joseph M. Lebworth, a World War II hero. Sadly, his son David Alva passed away at the age of 29.
Bernard Gimbel passed away in 1966. His funeral services were held at Temple Emanu-El in Manhattan.
