William Modell
Encyclopedia
William D. Modell was an American
businessman who served as the chairman of the Modell's Sporting Goods retail chain.
of Brooklyn
, New York, before attending New York University
. He enlisted in the United States Army
during World War II
.
immigrant grandfather, Morris Modell, who opened the first store on Cortlandt Street
in Lower Manhattan
. Modell's Sporting Goods grew rapidly after World War I
by stocking up on leftover Army surplus and selling it at low prices.
William Modell became chairman of the company
in 1985, but had effectively run the company with his father, Henry Modell, who was chairman of the Modell's, since 1963. His expansion strategy for the company involved buying locations from faltering rivals in the sporting goods business. For example, under Modell the company paid $2.5 million dollars for fifteen locations from bankrupt rival, Herman's World of Sporting Goods
in 1996. This acquisition
expanded the number of Modell's Sporting Goods stores from 52 to 67 stores and inccreased the company's presence in New Jersey
and the Baltimore
-Washington D.C. areas.
As of 2008, the company now has 136 retail locations in eight states, with a 2007 annual revenue
of approximately $635 million dollars.
William Modell was also the founder of the Crohn's and Colitis Foundation of America
. His son Michael, who suffered from Crohn's disease
, died in 2001.
on February 14, 2008, of complications from prostate cancer
at the age of 86. He was survived by his wife, Shelby Zaldin, a daighter, Leslie, and a son, Mitchell Modell, who is the current CEO of the Modell's Sporting Goods. He was a resident of Hewlett Harbor, New York
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessman who served as the chairman of the Modell's Sporting Goods retail chain.
Early life
Modell was born on May 13, 1921. He grew up in the Manhattan Beach neighborhoodManhattan Beach, Brooklyn
Manhattan Beach is a residential neighborhood in the New York City borough of Brooklyn. It is bounded by the Atlantic Ocean to the south and east, by Sheepshead Bay on the north, and Brighton Beach to the west. Traditionally known as an Italian and Ashkenazi Jewish neighborhood, it is also home to...
of Brooklyn
Brooklyn
Brooklyn is the most populous of New York City's five boroughs, with nearly 2.6 million residents, and the second-largest in area. Since 1896, Brooklyn has had the same boundaries as Kings County, which is now the most populous county in New York State and the second-most densely populated...
, New York, before attending New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
. He enlisted in the United States Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
during World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
.
Modell's Sporting Goods
William Modell first became involved in Modell's Sporting Goods, a family business, after World War II. The store had been founded in 1889 by Modell's HungarianHungary
Hungary , officially the Republic of Hungary , is a landlocked country in Central Europe. It is situated in the Carpathian Basin and is bordered by Slovakia to the north, Ukraine and Romania to the east, Serbia and Croatia to the south, Slovenia to the southwest and Austria to the west. The...
immigrant grandfather, Morris Modell, who opened the first store on Cortlandt Street
Cortlandt Street
Cortlandt Street may refer to:* A street in Lower Manhattan, most of which became part of the World Trade Center in the 1970s* Cortlandt Street , a New York City Subway station...
in Lower Manhattan
Lower Manhattan
Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York...
. Modell's Sporting Goods grew rapidly after World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
by stocking up on leftover Army surplus and selling it at low prices.
William Modell became chairman of the company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
in 1985, but had effectively run the company with his father, Henry Modell, who was chairman of the Modell's, since 1963. His expansion strategy for the company involved buying locations from faltering rivals in the sporting goods business. For example, under Modell the company paid $2.5 million dollars for fifteen locations from bankrupt rival, Herman's World of Sporting Goods
Herman's World of Sporting Goods
Herman's World Of Sporting Goods was a sporting goods retailer in the United States. It was founded by Herman Steinlauf in 1916 as a music store. At one time, there was a gentleman's agreement with west coast competitor Oshman's Sporting Goods, that the Herman's chain would stay east of the...
in 1996. This acquisition
Takeover
In business, a takeover is the purchase of one company by another . In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.- Friendly takeovers :Before a bidder makes an offer for another...
expanded the number of Modell's Sporting Goods stores from 52 to 67 stores and inccreased the company's presence in New Jersey
New Jersey
New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...
and the Baltimore
Baltimore
Baltimore is the largest independent city in the United States and the largest city and cultural center of the US state of Maryland. The city is located in central Maryland along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. Baltimore is sometimes referred to as Baltimore...
-Washington D.C. areas.
As of 2008, the company now has 136 retail locations in eight states, with a 2007 annual revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
of approximately $635 million dollars.
William Modell was also the founder of the Crohn's and Colitis Foundation of America
Crohn's and Colitis Foundation of America
The Crohn’s & Colitis Foundation of America is a non-profit organization, founded in 1967, whose mission is to cure Crohn’s disease and ulcerative colitis and to improve the quality of life of children and adults affected by these digestive diseases.Supported by individual, foundation and...
. His son Michael, who suffered from Crohn's disease
Crohn's disease
Crohn's disease, also known as regional enteritis, is a type of inflammatory bowel disease that may affect any part of the gastrointestinal tract from mouth to anus, causing a wide variety of symptoms...
, died in 2001.
Death
William Modell died in ManhattanManhattan
Manhattan is the oldest and the most densely populated of the five boroughs of New York City. Located primarily on the island of Manhattan at the mouth of the Hudson River, the boundaries of the borough are identical to those of New York County, an original county of the state of New York...
on February 14, 2008, of complications from prostate cancer
Prostate cancer
Prostate cancer is a form of cancer that develops in the prostate, a gland in the male reproductive system. Most prostate cancers are slow growing; however, there are cases of aggressive prostate cancers. The cancer cells may metastasize from the prostate to other parts of the body, particularly...
at the age of 86. He was survived by his wife, Shelby Zaldin, a daighter, Leslie, and a son, Mitchell Modell, who is the current CEO of the Modell's Sporting Goods. He was a resident of Hewlett Harbor, New York
Hewlett Harbor, New York
Hewlett Harbor is a village in Nassau County, New York in the USA. The population was 1,263 at the 2010 census.The Village of Hewlett Harbor is inside the Town of Hempstead.-Geography:Hewlett Harbor is located at ....
.