William Modell
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William D. Modell (May 13, 1921 - February 14, 2008) was an American businessman who served as the chairman of the Modell's Sporting Goods retail chain.[1]
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[edit] Early life
Modell was born on May 13, 1921.[1] 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]
[edit] 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 dollars 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 inccreased the company's presence in New Jersey and the Baltimore-Washington D.C. areas.[1]
As of 2008, the company now has 136 retail locations in eight states, with a 2007 annual revenue of approximately $635 million dollars.[1]
William Modell was also the founder of the Crohn’s and Colitis Foundation of America.[1] His son Michael, who suffered from Crohn's disease, died in 2001.[1]
[edit] Death
William Modell died in Manhattan on February 14, 2008, of complications from prostate cancer at the age of 86.[1] 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.[1] He was a resident of Hewlett Harbor, New York.[1]
