Bernie Marcus, a visionary co-founder of Home Depot, passed away on Monday in Boca Raton, Florida, at the age of 95. His death was shared via an announcement on his Facebook page.
In 1978, after parting ways with his role as chief executive at a California hardware chain, Marcus conceived a groundbreaking idea — a do-it-yourself, large-format store that resembled a warehouse more than a traditional retail space. Focusing on the needs of amateur home improvement enthusiasts, Marcus envisioned a no-frills outlet stocked to the brim with a wide array of affordable home-improvement products. To enhance the shopping experience, he emphasized employing knowledgeable staff who could assist customers with expertise and advice.
Alongside his former colleague from Handy Dan, Arthur Blank, Marcus brought Home Depot to life that same year, launching the first location in Atlanta with the support of financier Ken Langone. Today, Home Depot has grown exponentially, featuring over 2,300 stores in North America and generating more than $150 billion in annual revenue.
Marcus’s innovative approach not only revolutionized the retail sector but also embodied the entrepreneurial spirit by empowering consumers to take on their home projects with confidence and resourcefulness. His legacy as a pioneer in the home improvement industry will continue to inspire future generations of entrepreneurs and DIY enthusiasts alike.
Summary: Bernie Marcus, co-founder of Home Depot, passed away at 95. He revolutionized home improvement retailing with his big-box store concept catering to DIY enthusiasts, leading to over 2,300 Home Depot locations and significant annual revenue. His legacy will inspire future generations.