Business History Sears: Cocaine Wine, Shotguns, and the World’s Tallest Tower
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Jan 28, 2026 A rags-to-riches retail saga that shows how a pocket-watch seller built a mail-order empire selling everything from shotguns to cocaine wine. It traces massive logistics innovations and a rise into a national storefront powerhouse. Then it recounts hubris symbolized by the world’s tallest office tower and the tactics that let rivals like Walmart topple the giant.
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Farming Life Fueled Sears Catalog Orders
- Jacob Goldstein describes a Nebraska farmer ordering a shotgun, encyclopedias, a buggy, and Peruvian wine of coca from the Sears catalog in 1897.
- The catalog was essential reading and practical household material for remote Americans.
Sell Before You Buy To Finance Growth
- Jacob Goldstein explains Sears sold goods before buying them, creating a negative cash conversion cycle.
- That allowed rapid growth without heavy capital needs and acted like an early retail flywheel.
Suitmaker Turned Sears Operator
- Jacob Goldstein recounts Julius Rosenwald, a suit maker, becoming Sears' vice president after supplying huge suit orders.
- Rosenwald brought bookkeeping and operational discipline to Sears' chaotic sales-driven culture.