Category Archives: Department Store

How Gump’s Plan To Make Comeback To Serve The People

 

Gump’s was a business started by Solomon and Gustave Gump in 1861. The company started during the California Gold Rush. The two brothers would originally sale mirrors and frames. The company would move to Union Square after a fire occurred in 1906.

The company would become well-known for the sale of home furnishings and home décor. There have been few celebrities who have shopped at the luxury retailer. They carry top-quality luxury brands including Hermes and Buccellati.

Gump’s would close in 2018, but it would be the Chachas family to help lead the business back from closure. John Chachas would accept a statue of Buddha as payment for brokering the deal that allows a person to sell a business. The “Buddha” stood in the middle of the store, and it was signed that reminded many people of Christmas. Go Here for more information.

John Chachas would allow the statue to be kept in the store’s lobby. Chachas would remember the time he spent at the retailer when he was a young boy. The possible liquidation of the Gump’s led Chachas to want to take possession of the Buddha statue. Chachas would auction the statue and receive nearly $4 million. He would use $650,000 to purchase the trademarks of Gump’s. John’s children would become majority owners. The store would remain under family ownership when it reopened.

Gump’s has provided a brand that John Chachas found impressive. The company was able to connect with the people in the past. Gump’s has been able to provide people great products. The company expects to reopen in the Fall of 2019. Gump’s has a plan to have the store in San Francisco, California Gump’s also has a plan to have a store located in New York City, NY. The company plans to utilize the company’s website to reveal the exact location of the next store. They will also use social media platforms to inform the public of the store’s location.

 

Visit their LinkedIn profile on https://www.linkedin.com/company/gump%27s