Bruce Nordstrom, the who helped transform his family's regional department store chain into a national luxury brand, has passed away at 90. The Seattle-based company affirmed that its former chairman died at his residence on Saturday. "Our dad leaves a powerful legacy as a legendary , a generous community citizen, and a loyal friend," read an official statement from his sons, Erik Nordstrom, the company's current CEO, and Pete Nordstrom, its president.
The business traces its lineage back to a shoe store opened by John Nordstrom and a partner in Seattle in 1901. Like many old-school American businesses, their legacy story may sound familiar. Nordstrom was founded as a shoe store in 1901 by Swedish immigrant John W.
Nordstrom (JWN), who came to Seattle with $5 in his pocket. He left his company to his family - and the giant franchise is still owned by them. The third generation of Nordstroms, including Bruce, assumed control in 1968, brought the company public in 1971, and spearheaded its expansion across America whilst introducing the more affordable Nordstrom Rack stores.
In 1995, Bruce retired from executive roles as leadership was shifted to the fourth generation, formally retiring from the board of directors in 2006. He was part of the 2017 endeavour by numerous Nordstrom family members to take the company private—a proposition to acquire the remaining 70% of department store stock they didn't own at the time. After failed talks in 2018, his sons revived the negotiation.