Covington’s book tells the story of how the Belk Department Store chain began in 1888 as a small country mercantile founded by William Henry Belk. Belk devised a unique organizational structure that allowed him to partner with other retailers to form a loose network. This afforded member retailers buying power at wholesale that was a competitive advantage. The book explains how this conglomeration of separate but partner stores grew, and how it adapted to changes in the retail industry.
Treatment is given to the Belk family’s personal affairs including how William Henry Belk’s deep Presbyterian beliefs influenced all of his business decisions, dealings, and sense of corporate philanthropy.
The second generation of Belks experienced family rifts in running the business that shook the company’s foundations. However, be it family feuds or fiscal crises, the Belk conglomeration of stores always managed to pull through, making necessary adjustments, and often experiencing unprecedented growth.
Today Belk touts itself as the nation’s largest privately owned department store chain, yet makes public SEC data available to its shareholders. This confused me. However, the events leading to Belk Stores uniting into Belk Inc. and how stockholders became involved suddenly made sense after reading this book.
A LOCAL LEADER
One visit to the Charlotte region and you can’t help but notice the roots of this company run deep throughout:
• John Belk (second generation) formerly served as mayor of Charlotte and has a highway named after him.
• Numerous benefactors in non-profit, educational, and charity fields have enjoyed large contributions from the generosity of the Belk Foundation.
• Many alumni of Davidson College have the Belk Scholarship to thank for assistance in their education.
• The stores feature private-label brands such as Biltmore™ for Your Home—testament to the company’s Carolina heritage.
• The Levine Museum of the New South has a replica of an early Belk store, complete with merchandise displays and era-garb for revelers to try on. (See photos below.)
• Reverend Billy Graham, another Charlotte mover and shaker who also has a highway named after him, even worked as a Belk associate in his earlier years. Rev. Graham apparently sold shoes in a Charlotte-area Belk store.
IN SUMMARY
Belk Inc. — The Company and the Family that Built It is definitely not for everybody. In places it can get confusing. Characters are introduced at a dizzying rate, requiring one to read and re-read in hopes of understanding where the latest store manager or Belk influencer popped out of. Four separate photo spreads help clarify things and also—quite literally—put a face on many of the characters. Business-minded people especially will enjoy getting an insider’s glimpse into how this unique company is structured and how it operates. The current book covers until 2002, and so by now there have certainly been changes within the company.
I work in the retail industry, and found much of this book very relevant. Others will find it interesting in parts, but easy to get lost at times. However, Belk Inc… is ultimately a worthwhile read for anyone looking for an inspiring tale of a family business that has been able to adapt with the times, influence a region, and grow itself into prosperous contender in the world of retailing. Read the PDF copy free at Belk.com.
P.S. - This is predominately a Buffalo-themed blog. The Buffalo connection? In Chapter 14, page 226 we learn Ralph Laruen's Polo line was elusive in becoming a vendor partner with Belk. In fact, a Polo executive told Tom Belk if the NY Giants won the Super Bowl, Belk could carry the men's Polo line. Mention Super Bowl XXV (1991) and the phrase "wide right" to any Bills fan, and you might get clobbered with a chicken wing. Belk to this day carries Polo by Ralph Lauren.
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