The Rebirth of Luxury Retailer Gump’s

 

Gump’s is one of the oldest luxury retailers in America, and is renowned for their long history of providing millions of customers with luxury goods around the world. They are based in San Francisco, CA and New York, NY. It was founded in 1861 by brothers Solomon and Gustave Gump, whose small mirror and frame shop grew to a much larger venture over time.

The Gump’s took advantage of the California gold rush and eventually established their permanent location in San Francisco. They sent out buyers to countries in the far east, building their reputation as one of the most prominent suppliers of rare exotic oriental gifts.

Some of Gump’s most famous customers include President Franklin D. Roosevelt and Sarah Bernhardt, an actress who starred in some of the most popular French plays of the 19th and 20th centuries. Read This Article for more information

Investment banker John Chachas would regularly visit Gump’s as a child, and was always particularly interested in a large Buddha statue that sat in the store. 50 years later, Chachas asked for the Buddha in exchange for payment of a hefty transaction that was meant to take place between Gump’s and buyers. The statue changed hands for a comparatively paltry $800, and marked the beginning of Chachas’ acquisition of Gump’s.

After a while, Chachas sold the Buddha in Hong Kong for $14 million Hong Kong Dollars and went on to create his own investment fund. Today, he is using the profit he gained from selling the statue to buy Gump’s in its entirety. Get More Information Here.

He plans to continue the century-old business model and fine reputation of the company, starting by rehiring many of its previously unemployed executives. Maintaining the family-owned nature of Gump’s, Chachas intends to revamp the store with the help of his wife, Diane, and his daughter, Anne, in order to pay homage to Gump’s legacy.

 

Follow them on https://twitter.com/@gumpssf

Gumps Under New Owners But Still Family Owned

 

In recent months Gumps of San Francisco has had to close its doors. Many long-time businesses have seen better days. Brick and mortar stores are losing their glory and have been through several years of happiness and cheer. Special occasions that need a special gift through the holidays, anniversaries, birthdays, and numerous other occasions that a high-end retailer.

Gumps is known for being one of the oldest brands to ever exist in retail within the United States. The business was running for more than 150 years when things began to change. The change in the economy had everything to do without how people were shopping.

Giving a gift from Gumps of San Francisco, CA or New York, NY comes with all the glam that a top name store has. After 150 years of supplying this glamorous fare and flare to its customers, it has had to end business. However, a family that has been involved in the business’s stocks has purchased it and plans on re-opening it.

Providing all the pomp and circumstance of a grand re-opening, the couple plan on launching an online shopping experience that provides the same quality products with the same high-end feel of the store. Twitter and Instagram are some of the portals to be used for the grand opening of the new Gumps.

The location has not yet been revealed but they plan on keeping up with the history of the store including the jewelry offerings from exquisite countries, furniture, and home decor. The new family is planning on opening in the fall of 2019. Find Additional Information Here.

The rich heritage and luxury ambiance will be evident in any platform for shopping with the new owners of Gumps. Anne Chachas is excited about having Gumps open for the 158th season. It was closed down just after Christmas last year and the Chachas family is working hard to open later this year. Refer to This Article for related information.

 

View source: https://www.prnewswire.com/news-releases/gumps-iconic-san-francisco-luxury-retailer-has-been-acquired-300879531.html