Business Wars Macy’s vs Gimbels - Diversify or Die | 4
Dec 11, 2019
Journey back to the 1920s, where the rivalry between two department store giants heats up. Gimbels makes a bold move by acquiring Saks Fifth Avenue, navigating family challenges during the Great Depression. Meanwhile, Macy's pulls out all the stops by hiring a trailblazing female advertising executive and embracing radio to reach a wider audience. As competition intensifies, personal struggles and strategic shifts reshape the landscape of retail, revealing the high stakes behind glamour and innovation.
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The Coffin Merger
- Gimbels and Saks merge after a chance encounter on a train, despite family opposition.
- This merger allowed Saks to open a luxurious Fifth Avenue store, offering both high-end and bargain products.
Saks Fifth Avenue Grand Opening
- Saks Fifth Avenue's grand opening on 50th Street was a huge success, attracting fashionable shoppers.
- A rumor about the Prince of Wales's presence caused a stir, highlighting the store's allure.
Adam Gimbel's Transformation of Saks
- After Horace Saks's death, Adam Gimbel took over Saks Fifth Avenue, embracing Art Deco design.
- The store's transformation into an opulent space with luxury goods proved highly profitable.