Fashion Influential #55: Rowland Hussey Macy
A shopper carries a bag from Macy's as she walks down Market Street November 21, 2008 in San Francisco, California. Retailers are gearing up for what is predicted to be a dismal holiday shopping season as the country struggles through a rough economy. (Getty Images)more pics » ROWLAND HUSSEY MACY
Born:
August 30, 1822, Nantucket Island, MA
Died:
March 29, 1877, Paris, France
First Day of Sales at Macy's:
$11.06
First Year of Sales:
$90,000
Beginnings.
Failure built the Macy empire. Rowland Hussey Macy had opened and closed four dry goods stores before he opened a store on 6th Ave. and 14th St. in New York City, but his failures inspired the major innovations that set Macy's apart from other stores. He sold items at a fixed rate, for one - the same prices held for all customers, he offered seasonal discounts, and he was inventive with advertising.
Career Highs.
Macy died in 1877, but his company reached the pinnacle of its growth after his death. Macy's annual sales reached $36 million in 1918; in 1922, the company went public. Macy's was so lucrative it began to buy out competing stores and open regional stores all over the country. In 1924, Macy's employees, many of them recent immigrants, organized a Thanksgiving Day parade to celebrate their American heritage, setting in motion a true cultural event.
One of six children, [Macy] valued a dollar and instinctively sympathized - much as [Walmart founder] Sam Walton did a century later - with customers who hungered for bargains.
- Jeffrey Trachtenberg, "The Rain of Macy's Parade."
Rowland Hussey Macy.Career Lows.
Macy had definitely experienced failure first-hand - but his initial failures worked to his advantage in the end. Unfortunately, he didn't live long enough to see his store outgrow its first location: he died in 1877 at the age of 54. His company may be on its last legs, too - with the economic downturn, many are speculating that the department store may soon disappear at the hands of Walmart and Target.
Legacy.
Macy began the tradition of offering eclectic and creative wares in department stores: it was Macy's that introduced the Idaho baked potato, the teabag, and colored bath towels to a consuming public. Macy was also the first retailer to promote a woman - Margaret Getchell - to an executive position, breaking down barriers for women in business.
David Beckham's Emporio Armani advertisement at Macy's in San Francisco drew a large crowd.Interesting Fact.
The red star on the Macy's logo was patterned after a tattoo Macy had etched on his hand at the age of 15. At the time, he was a young fisherman aboard a whaling ship.
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