Nordstrom is going private. Here's how the Seattle family built its retail empire.

Two decades later, the partners opened a second store in Seattle's University District.

Wallin retired soon after and sold his share of the company to the Nordstrom sons too. John's third son, Lloyd, later joined the team.

Nordstrom purchased the Seattle-based clothing store Best's Apparel in 1963. Three years later, the company purchased a Portland, Oregon-based clothing store and began offering both shoes and apparel under the name Nordstrom Best. The company added men's and children's apparel in 1966.

Everett's son Bruce, Elmer's sons James and John, Lloyd's son-in-law Jack, and family friend Bob Bender became the new heads of the company. The third generation of Nordstrom chairmen took the company public in 1971, formally renaming it Nordstrom Inc.

That same year, the company became the largest-volume fashion specialty store on the West Coast, with sales surpassing $100 million. The chain continued to expand throughout the next several decades.

The elder Nordstroms retired as co-chairmen, but remained on the Board of Directors, and Bruce's sons, Blake, Pete, and Erik, took over the company in 1995.

Blake began working in the family business when he was about 11 years old. His first role with the company was in the stockroom, and he went on to hold many positions with the company, including merchandise buyer, regional manager, and then vice president in charge of stores in Washington and Alaska.

"It was always the best working for my brother because he had more confidence in me and gave me more autonomy than anybody I had ever worked for," Erik Nordstrom said in his father's 2007 book, "Leave It Better Than You Found It."

Bruce and his sons were credited with turning the company around after several years of underperformance by non-family leadership.

In 2014, the company started expanding internationally. It opened stores in Canada and the US territory of Puerto Rico.

The concept combined in-store services, such as tailoring, shoe shining, and food, with high-tech digital ordering and returns systems.

"Blake was the best big brother, friend and mentor anyone could ever ask for," Pete and Erik Nordstrom said in a note to employees. "One of the things that brings us some comfort is that Blake's values, character and passion can still be reflected in what this company does — how we treat each other, our customers and our communities. Building on that is the best way we can think of to honor his legacy."

In regulatory filings, the brother said they had not yet received any financing commitments to complete such a deal.

Nordstrom died on May 18, 2024.

"Our dad leaves a powerful legacy as a legendary business leader, a generous community citizen and a loyal friend," Pete and Erik said in a statement.

The deal with Mexican retailer El Puerto de Liverpool was developed over several months. Once completed, the Nordstrom descendants will own 50.1% of the department store chain, with the other 49.9% in the hands of Liverpool, Nordstrom said.

"We maintained the momentum we built throughout the year, which resulted in full-year sales and profitability coming in at the high end of our expectations," Erik Nordstrom, chief executive of Nordstrom, Inc, said in a statement.

The company also said it opened 23 new Nordstrom Rack locations in 2024 and plans to open 20 more under the off-price banner this year.

Jessica Tyler contributed to an earlier version of this story.