Paul Bonwit Entrepreneur Date of Birth: 29.09.1862 Country: USA

1. Early Life and Education
2. Emigration and Career in the United States
3. Establishment of Bonwit Teller
4. Expansion and Relocations
5. Continued Success and Sale of the Company
6. Later Life and Legacy

Early Life and Education

Paul Joseph Bonwit was born on September 29, 1862, near Hanover, Germany. At the age of 16, he moved to Paris, where he worked as a clerk in an export company while continuing his education in the evenings.

Emigration and Career in the United States

In 1883, at the age of 21, Bonwit emigrated to the United States. He initially settled in Lincoln, Nebraska, where he worked in a department store. Later, he moved to New York City and joined Rothschild & Company, eventually becoming a partner and renaming the firm Bonwit, Rothschild & Company.

Establishment of Bonwit Teller

Seeking to establish his own business, Bonwit opened a small millinery shop in Manhattan in the late 1880s. In 1895, he partnered with Edmund D. Teller and founded Bonwit Teller, a department store specializing in high-quality women's clothing.

Expansion and Relocations

Under the leadership of Bonwit and Teller, the store expanded and relocated several times. In 1898, it moved to Twenty-third Street, between Fifth and Sixth Avenues. In 1907, it was renamed Bonwit Teller & Company and in 1911, it relocated to the corner of Fifth Avenue and Thirty-eighth Street.

Continued Success and Sale of the Company

Bonwit Teller became a renowned department store, catering to the affluent women of New York City. In 1930, the store moved again to a larger location on Fifth Avenue and Fifty-sixth Street. However, due to health reasons and the death of his wife, Bonwit sold the company in 1934 to Floyd Odlum.

Later Life and Legacy

After selling Bonwit Teller, Paul Bonwit continued to be involved in other business ventures and supported various philanthropic causes. He passed away on December 11, 1939, at the age of 77. Bonwit's legacy as a founder of one of New York City's most prestigious department stores lives on.