William Modell
American businessman (1921–2008)
From Wikipedia, the free encyclopedia
William D. Modell (May 13, 1921 – February 14, 2008) was an American businessman who chaired the Modell's Sporting Goods retail chain.[1]
William D. Modell | |
|---|---|
| Born | May 13, 1921 |
| Died | February 14, 2008 (aged 86) New York City, New York, U.S. |
| Education | B.A. New York University |
| Occupation | businessman |
| Known for | Chair of the Modell's Sporting Goods |
Early life
Modell was born on May 13, 1921[1] to a Jewish family.[2] He grew up in the Manhattan Beach neighborhood of Brooklyn, New York, before attending New York University.[1] He enlisted in the United States Army during World War II.[1]
Modell's Sporting Goods
William Modell first became involved in Modell's Sporting Goods, a family business, after World War II.[1] The store had been founded in 1889 by Modell's Hungarian immigrant grandfather, Morris Modell, who opened the first store on Cortlandt Street in Lower Manhattan.[1] Modell's Sporting Goods grew rapidly after World War I by stocking up on leftover army surplus and selling it at low prices.[1]
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.[1] 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 for fifteen locations from bankrupt rival, Herman's World of Sporting Goods in 1996.[1] This acquisition expanded the number of Modell's Sporting Goods stores from 52 to 67 stores and increased the company's presence in New Jersey and the Baltimore-Washington D.C. areas.[1]
In 2008, the company operated 136 retail locations across eight states, with a 2007 annual revenue of approximately $635 million.[1]
Personal life
In 1949, Modell married Shelby Zaldin.[2] They had three children: a daughter, Leslie Modell; and two sons, Mitchell, the current CEO of the Modell's Sporting Goods, and Michael, who suffered from Crohn's disease, an inflammation of the digestive tract. Michael died in 2001.[1] He was a resident of Hewlett Harbor, New York.[1]
In 1967, Modell founded the Crohn's and Colitis Foundation of America,[1] a non-profit, volunteer-driven organization dedicated to finding cures for Crohn's disease and ulcerative colitis and improving the quality of life of its victims.