i know some of the edelsteins
quote:
Edelstein’s sold after 102 years
Family furniture business will change hands this week
January 29, 2008 12:01 PM
By AARON NELSEN/The Brownsville Herald
BROWNSVILLE - The family-operated Edelstein’s Better Furniture, a Rio Grande Valley institution since 1906, has been acquired by Famsa, Inc., the U.S. subsidiary of the Monterrey-based Grupo Famsa.
On Feb. 1, Grupo Famsa will assume control of the longtime Valley establishment, bringing an end to 102 years of Edelstein family leadership.
Under the terms of the agreement, Famsa will take over Edelstein’s 12 furniture stores in the Valley, and the family will retain the Designer’s Showroom locations in Brownsville and McAllen.
“The principals are getting elderly and the younger generation feels this is the way to go,” said Ruben Edelstein, president of the company.
According to Julie Edelstein-Best, Ruben Edelstein’s daughter and vice president of sales and marketing, Famsa will hold on to most Edelstein employees.
However, Famsa is expected to replace Edelstein’s office staff with its own.
“This is a very positive thing,” Edelstein-Best said. “This will allow Edelstein’s to better serve the Valley and it will open the door to doing more business with Mexico.”
Grupo Famsa operates 350 retail locations throughout Mexico, and an additional 47 U.S. locations with the acquisition of Edelstein’s Better Furniture.
Edelstein-Best said many of the day-to-day operations would remain the same, including Edelstein’s current merchandising practices.
Famsa is expected to use its $1 billion in buying power to increase its presence on both sides of the border.
Morris Edelstein, grandson of founder Morris Edelstein, will remain on as district manager for the Famsa Valley stores.
Edelstein-Best will manage the Designer’s Showroom locations in McAllen and Brownsville.
Morris Edelstein, a Lithuanian immigrant, founded Edelstein’s Better Furniture in 1906.
He began by peddling his wares door to door in Brownsville. But, it was his idea of offering payment plans on furniture that was credited with dramatically increasing sales.
In 1925 Edelstein’s opened in Harlingen and McAllen, and within five years had 13 stores on both sides of the border, including Matamoros and Piedras Negras.
Ruben Edelstein took over the family business in 1946.
Today, the furniture chain has 12 retail locations in the Rio Grande Valley, offering home furnishings, bedding, appliances and electronics.
Edelstein’s two Designer’s Showroom locations serve a high-end market.
“We’re very sad,” Edelstein-Best said of the historic sale.
“In another respect, we believe this (sale) will make our organization stronger,” she said, grateful that the Edelstein “family tradition of doing business in the Rio Grande Valley will be carried on