Fingerhut
Encyclopedia
Fingerhut is a catalog
retailer
and an online retailer.
Fingerhut was founded in 1948 by William Fingerhut and his brother Manny selling automobile seat covers. In 1952, the business re-positioned itself to a mail order catalog company and diversified its goods to include towels, dishes, and tools. In 1969 the company went public.
The Fingerhut brand has passed through several ownerships during its existence, including onetime ownership by American Can Company
and its successor Primerica, Federated Department Stores
(1999), and Petters Group Worldwide
(2002), and Bain Capital Ventures
(2004), the investment firm co-founded by Mitt Romney
.
Mail order
Mail order is a term which describes the buying of goods or services by mail delivery. The buyer places an order for the desired products with the merchant through some remote method such as through a telephone call or web site. Then, the products are delivered to the customer...
retailer
Retailing
Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may be...
and an online retailer.
Fingerhut was founded in 1948 by William Fingerhut and his brother Manny selling automobile seat covers. In 1952, the business re-positioned itself to a mail order catalog company and diversified its goods to include towels, dishes, and tools. In 1969 the company went public.
The Fingerhut brand has passed through several ownerships during its existence, including onetime ownership by American Can Company
American Can Company
The American Can Company was a manufacturer of tin cans. It was a member of the Tin Can Trust, that controlled a "large percentage of business in the United States in tin cans, containers, and packages of tin." It was formerly a member of the Dow Jones Industrial Average from 1959–1991, though...
and its successor Primerica, Federated Department Stores
Federated Department Stores
Macy's, Inc. is a department store holding company and owner of Macy's and Bloomingdale's department stores. Macy's Inc.'s stores specialize mostly in retail clothing, jewelery, watches, dinnerware, and furniture....
(1999), and Petters Group Worldwide
Petters Group Worldwide
Petters Group Worldwide was a diversified company based in Minnetonka, Minnesota that was turned into a $3.65 billion Ponzi scheme by its founder and CEO, Tom Petters. It currently has 3,200 employees and investments or full ownership in 60 companies, of which it actively managed 20, with offices...
(2002), and Bain Capital Ventures
Bain Capital Ventures
Bain Capital Ventures is the Boston-based venture capital affiliate of Bain Capital. Bain Capital Ventures' history dates back to 1984, with investments in over 110 early and growth stage companies such as Staples, DoubleClick, Aspect Development, Shopping.com, Taleo Corporation, SolarWinds,...
(2004), the investment firm co-founded by Mitt Romney
Mitt Romney
Willard Mitt Romney is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for the 2012 Republican Party presidential nomination.The son of George W...
.
Further reading
- Chandler, Susan, "Data Is Power. Just Ask Fingerhut", Business Week, June 3, 1996, p. 69.
- Jaffe, Thomas, "Thumbs up on Fingerhut?", Forbes, January 21, 1991, p. 124.
- Louis, Arthur M., "Dead-Letter Days for Fingerhut", Fortune, November 1974, pp. 184–190.
- Meyer, Herbert E., "How Fingerhut Beat the Recession", Fortune, November 17, 1980, pp. 102–104.
- Phelps, David, "Pointing a Finger at Fingerhut", Minneapolis Star Tribune, January 10, 1999, p. 1D.