You are here : Home > Proud History
Proud History
|

|
Born outside of Minsk, Russia, in 1893, Rose Gorelick followed her husband, Isadore Blumkin to America in 1917 to
take on the American dream. By 1922, the young couple had scraped together enough money to have her family flee Russia and join them in
America.
In addition to raising their four children, Mrs. B helped
with her husband's business ventures, including a second-hand clothing shop. Finding deals on men's suits and accessories, she printed
10,000 circulars that offered to outfit a man from head to toe for five dollars - an amazingly fair deal for the times. It worked nicely,
and she made a respectable profit.
In 1937, the Nebraska Furniture Mart was founded in the basement of her husband's shop. Her belief in selling at tiny
margins created rough going early on with the manufacturers boycotting
Mrs. B at the urging of local competition, who generally
operated on higher markups. Traveling by train to Kansas City, Chicago and New York, she became a proficient furniture bargain hunter by
buying from large furniture stores at 5% over their cost, and still making a profit using her low markup sales strategy.
|
 |
An American legend, Rose Blumkin (Mrs. B),
knew early in life that honesty and integrity would serve her well. Those beliefs laid the foundation for Nebraska Furniture Mart's rise to its
status as a Midwestern retailing legend.
Still, battling reluctant suppliers and a depressed Korean War economy in 1951,
Mrs. B filled Omaha's City Auditorium with the store's inventory
for an all-out, three-day sale. In three chaotic days, she took in $250,000 and eliminated her debt forever.
The growing success led to moves to various downtown locations, and the flagship store at 2205 Farnam eventually expanded to 120,000 square feet
and operated in tandem with the present 72nd street location from 1970 to 1980. Joining his mother in the business in post-war 1946, son Louie
contributed immeasurably to the growth and success of the business.
A devastating tornado in 1975 caused only a minor blip on the business record of the business. With millions of dollars in damage to the 72nd
street store, Mrs. B and her son simply rebuilt bigger and better. |
 |
Impressed with the success, business savvy and honest dealings of the Blumkins, investor Warren Buffett and
Mrs. B used a simple handshake to seal the purchase of 90% of the
business for Buffett's Berkshire Hathaway portfolio in 1983. The 'Historic Omaha Handshake' plus a simple two-page written agreement were all that
were required - no audit of the store's books, no inventory of its merchandise.
Daily dealings with her customers over the years,
long work days and later in life, her motorized cart buzzing
around her store, she was always bringing a smile to a customer's
face with a great deal.
Throughout the years Mrs. B supported many causes and various
community events, many times behind the scenes. The most notable is the Rose Blumkin Jewish Home and the renovation of the Astro theater into
'The Rose', - the Rose Blumkin Performing Arts Center - the home of the Emmy Gifford Children's Theater.
Until her death in 1998 at 104, Rose Blumkin rode the crest of a
simple business tenet: "Sell cheap and tell the truth." The store, now under the leadership of her son Louie, and three grandsons,
still adheres to this advice as Mrs. B's philosophy continues to help
them meet each new challenge. |
 |
Amidst constant modernization updates to the store and 77-acre campus, a massive electronics and appliance store was added
in 1994.
In 2000 a remodel of Nebraska Furniture Mart Omaha was completed. Also in 2000, the Homemakers store in Des Moines became
a part of Nebraska Furniture Mart.
In 2003 Nebraska Furniture Mart added a 600,000 square foot state-of the art warehouse and distribution center and a new store in Kansas City, Kansas.
The Kansas City store encompasses more than 1,000,000 square feet of retail and distribution facilities became the first location outside of Omaha to
offer its full compliment of products.
In 2006 Nebraska Furniture Mart launched a new website with full ecommerce functionality. For the first time customers could shop
and buy online.
In 2007 Nebraska Furniture Mart renovated the Appliance and Electronics store in Omaha.
|