|Industry||Mail order, online shopping|
|Founder||William and Manny Fingerhut|
|Headquarters||Eden Prairie, Minnesota, U.S.|
|Revenue||US$ 205 million (2005)|
|Owner||Bluestem Brands, Inc.|
Number of employees
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.
In 1994, Fingerhut sponsored the #98 NASCAR Ford Thunderbird for Cale Yarborough Motorsports. Derrike Cope started the year in the #98 car, before he was replaced later on by Jeremy Mayfield. In 1995 the company launched the e-commerce site fingerhut.com. By 1996, Fingerhut was one of the 25 largest credit card issuers in the United States.
Today, Fingerhut is distinguished from other online retailers in that customers can pay with credit, and make monthly payments until their orders are paid off.
The Fingerhut brand has passed through several ownerships during its existence, including onetime ownership by American Can Company (1979) and its successor Primerica, Federated Department Stores (1999), Petters Group Worldwide (2002), and Bain Capital Ventures (2004). Federated Department Stores Inc. (current Macy's, Inc.) acquired this company for US$ 1.7 billion in 1999. Fingerhut's revenue was US$ 1.7 billion for the fiscal year that ended in January 2001 (FY 2001). By 2000, Fingerhut had lost US$ 400 million and Federated Department Stores sold the company in 2002.
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