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Business Movers

Making Macy's | A Family Concern | 2

Business Movers

Wondery

History, Business, Entrepreneurship

4.81.5K Ratings

🗓️ 30 November 2023

⏱️ 40 minutes

🧾️ Download transcript

Summary

Following the deaths of Rowland Macy and his heirs, the Macy’s department store eventually passes into the ownership of the Straus family. Brothers Isidor and Nathan set about revitalizing the store, but Macy’s is soon threatened by a new rival in Manhattan and the Strauses are forced into a dramatic decision.

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Transcript

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0:00.0

Hey Prime members, you can listen to BusinessMovers ad free on Amazon Music.

0:05.0

Download the app today. It's March 1874 at Macy's on 6th Avenue in New York City. Nathan Strauss, a 26-year-old salesman picks

0:31.8

his way through the tightly packed counters and displays of the sprawling Macy's department store.

0:36.7

Since its opening 16 years ago, the footprint of Macy's has grown in a haphazard series of expansions.

0:43.0

Now the store extends well along 6th Avenue and around the corner onto 14th Street.

0:48.0

But Nathan hasn't come here today to go shopping.

0:52.0

Under his arm is a bundle wrapped in paper. It's something

0:55.6

he wants to show the store's owner, Roland Macy. Nathan ducked through a door into the sudden

1:01.2

calm of the back office. He steps quietly down the hall

1:04.9

until he finds the right door. Yes. 51 year old Roland looks up for his desk

1:11.0

at the eager young man in his doorway.

1:13.0

May I help you?

1:14.0

Mr. Macy, sir, this is a pleasure.

1:16.0

I'm Nathan Strauss, of Lazarus Strauss and sons.

1:19.0

The young man thrust out his hand and a perplexed Roland shakes it.

1:23.6

Do we have an appointment?

1:25.0

No, I was just passing through your wonderful shop,

1:27.5

and truly I thought here a customer can buy whatever their heart desires,

1:31.7

but except for one thing. Oh, and what's that? Nathan holds out the neatly wrapped

1:37.1

bundle to Roland. This. Skeptical, but a little intrigued, Roland takes the package.

1:43.0

Well, you're a bold young man, I'll grant you that.

1:46.0

Roland carefully removes the layers of paper to reveal two gleaming China plates.

...

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