Nebraska Furniture Mart is currently owned by Berkshire Hathaway, a multinational conglomerate holding company headquartered in Omaha, Nebraska. Berkshire Hathaway acquired the majority stake in Nebraska Furniture Mart in 1983, when it purchased 80% of the company’s shares from its founder, Rose Blumkin.
Key Facts
- Rose Blumkin: Rose Blumkin, also known as Mrs. B., founded Nebraska Furniture Mart in 1937. She was a remarkable businesswoman who grew the company into the largest indoor furniture store in America. Warren Buffett has praised her business acumen and considered her a model for aspiring business managers.
- Acquisition by Warren Buffett: In 1983, Warren Buffett’s company, Berkshire Hathaway, purchased 80% of Nebraska Furniture Mart in a one-page handshake deal with Rose Blumkin. Buffett based the deal on his own shopping experience at the Mart and his respect for the Blumkin family.
- Expansion and Success: Under Berkshire Hathaway’s ownership, Nebraska Furniture Mart continued to thrive and expand. It became part of Berkshire Hathaway’s larger retail portfolio. The company operates from three large retail complexes in Omaha and Kansas City.
Rose Blumkin: The Founder
Rose Blumkin, known as “Mrs. B.,” founded Nebraska Furniture Mart in 1937. She was a Russian immigrant who arrived in the United States in 1917. With a $500 investment, she started the business in the basement of her husband’s store in downtown Omaha.
Blumkin’s hard work and business acumen led to the growth of Nebraska Furniture Mart into the largest indoor furniture store in America. She was known for her keen eye for buying and her commitment to customer satisfaction.
Acquisition by Warren Buffett
In 1983, Warren Buffett, the CEO of Berkshire Hathaway, acquired 80% of Nebraska Furniture Mart in a one-page handshake deal with Blumkin. Buffett was impressed by Blumkin’s business success and her personal integrity.
The deal was based on Buffett’s own shopping experience at the Mart and his respect for the Blumkin family. Buffett believed that Nebraska Furniture Mart had a strong business model and a bright future.
Expansion and Success
Under Berkshire Hathaway’s ownership, Nebraska Furniture Mart continued to thrive and expand. It became part of Berkshire Hathaway’s larger retail portfolio, which includes other well-known brands such as Geico, Dairy Queen, and Fruit of the Loom.
Today, Nebraska Furniture Mart operates from three large retail complexes in Omaha, Nebraska; Kansas City, Kansas; and a suburb of Dallas, Texas. The company also owns Homemakers Furniture, a chain of furniture stores based in Des Moines, Iowa.
Sources
- [Berkshire Hathaway – Google Search](https://www.google.com/search?num=12&sca_esv=60df094e8c3a7fc5&q=Berkshire+Hathaway&stick=H4sIAAAAAAAAAONgVuLUz9U3MCzJzUt_xGjCLfDyxz1hKe1Ja05eY1Tl4grOyC93zSvJLKkUEudig7J4pbi5ELp4FrEKOaUWZRdnZBalKngklmQklidWAgAdecZvWQAAAA. Your response must be in the language of the relevant queries related to the URL.)
- Rose Blumkin – Wikipedia
- Warren Buffett and his relationship with retail legend Rose Blumkin
FAQs
Who is the current owner of Nebraska Furniture Mart?
Nebraska Furniture Mart is currently owned by Berkshire Hathaway, a multinational conglomerate holding company headquartered in Omaha, Nebraska.
Who founded Nebraska Furniture Mart?
Nebraska Furniture Mart was founded by Rose Blumkin in 1937.
When did Berkshire Hathaway acquire Nebraska Furniture Mart?
Berkshire Hathaway acquired 80% of Nebraska Furniture Mart in 1983.
What is the relationship between Warren Buffett and Nebraska Furniture Mart?
Warren Buffett is the CEO of Berkshire Hathaway, which owns Nebraska Furniture Mart. Buffett has praised Blumkin’s business acumen and considered her a model for aspiring business managers.
How many retail complexes does Nebraska Furniture Mart operate?
Nebraska Furniture Mart operates from three large retail complexes in Omaha, Nebraska; Kansas City, Kansas; and a suburb of Dallas, Texas.
Does Berkshire Hathaway own any other furniture stores?
Yes, Berkshire Hathaway also owns Homemakers Furniture, a chain of furniture stores based in Des Moines, Iowa.
What is the business model of Nebraska Furniture Mart?
Nebraska Furniture Mart is known for its low prices and large selection of furniture. The company buys furniture in bulk and passes the savings on to its customers.
What is the company culture of Nebraska Furniture Mart?
Nebraska Furniture Mart has a strong customer-centric culture. The company is committed to providing excellent customer service and satisfaction.