Retail scion Marvin Traub dead at 87

Marvin Traub, who started working in the bargain basement of Bloomingdales in 1950 and built the store into a trendy retail empire, died Wednesday in Manhattan of bladder cancer, according to published reports.

He was 87. Traub was fabled for lavish and creative promotions and socializing with the rich and famous, helped launch the careers of designers Ralph Lauren and Donna Karen.

Traub was "a true symbol of what one can accomplish in New York City through hard work and creativity," Mayor Michael Bloomberg said in a statement.