Word: bloomed
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Dates: during 1960-1969
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Last week New Millionaire Bloom was busy toppling another bastion of British traditionalism. In a land where only 3% of the houses are centrally heated, Bloom's Rolls Razor Ltd. has begun to sell thermostatically controlled heating units at prices that would warm even a Scotsman's heart...
...three-bedroom house, the Bloom heater (which electrically heats light oil) costs about $400, one-third as much as competing coal or oil systems...
...Make a Profit." "I've always been selling things," bubbles Bloom, a tailor's son who quit school at 16, now wears a stubble beard to cover his youth. As a Royal Air Force enlisted man, he started a bus service from his base to London that underpriced the R.A.F.'s own buses. When the bus line protested in court, the judge upheld Bloom with a declaration that has since become Bloom's motto: "It's no sin to make a profit...
...stint of selling cut-rate Dutch washing machines door to door gave Bloom the idea of marketing his own Dutch washers. After many Dutch farms refused to manufacture for him, he finally made a deal with a plant in Utrecht and formed his own company. Then he advertised a Spartan automatic washer-dryer for $144 -40% below competitors' prices. Bloom's first ad pulled 8,000 inquiries, and soon he was selling 500 machines a week. Hoping to cut overhead by opening production lines in Britain, he next made a novel deal with Rolls Razor...
...Middleman. Bloom's washer volume has more than doubled in the past nine months, now averages 1,700 a week; sales are up to an annual rate of $15 million. Bloom believes that "advertising is the key to this business," splashes full-page newspaper ads twice weekly across Britain. But his prices are his biggest showpiece: by selling directly from factory to customer, Bloom can price his automatic washers at $115 to $165, 35% to 55% below competitors...