🏢 Jordan's Furniture

📝 Description

Jordan's Furniture is a dominant New England furniture retailer acquired by Berkshire Hathaway in 1999. Under the leadership of brothers Barry and Eliot Tatelman, the company became legendary for its "Shoppertainment" model, which combined furniture shopping with entertainment experiences like IMAX theaters and laser shows.

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🔗 Connection to Berkshire

• Acquisition: Buffett acquired the company for cash in 1999 after years of recommendations from other Berkshire furniture managers (Louie Blumkin, Bill Child, and Melvyn Wolff).
• Exceptional Metrics: At the time of acquisition, Jordan's had the highest sales per square foot of any major furniture operation in the United States.
• Employee Generosity: Upon selling to Berkshire, the Tatelman brothers gave their employees $9 million ($0.50 for every hour worked in the company's history) out of their own pockets.

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💡 Key Mentions

• 1999 Letter: Buffett praises the "shoppertainment" model and the "classy" behavior of the Tatelman brothers toward their employees.
• Shoppertainment: The core retail philosophy of Jordan's Furniture.

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