Dave Gold
| Dave Gold | |
|---|---|
| Born |
June 5, 1932 Cleveland, Ohio, U.S. |
| Died |
April 22, 2013 (aged 80) Los Angeles, California, U.S. |
Cause of death | heart attack |
| Education | Los Angeles High School |
| Alma mater | Los Angeles City College (dropped out) |
| Occupation | businessman |
| Known for | Founder of 99 Cents Only Stores |
Dave Gold (June 5, 1932 – April 22, 2013) was an American businessman who established the 99 Cents Only chain of discount stores.
Gold was born in Cleveland, Ohio to Russian immigrants who operated a general store.[1]
His family moved to Los Angeles in 1945. Gold graduated from Los Angeles High School and began studies at Los Angeles City College, but dropped out to run his family's liquor store after his father had a heart attack.[1]
Gold had noticed that 99 cents seemed to be a "magic number." "Whenever I'd put wine or cheese on sale for $1.02 or 98 cents, it never sold out. When I put a 99 cent sign on anything, it was gone in no time," he said in a 2003 interview with The Los Angeles Times.[1]
Gold opened the first 99 Cents Only store in 1982. At the time, the dollar store concept was considered a retail graveyard for expired or broken products.[1] Gold made his store bright and well organized and cultivated relationships with vendors, sometimes plying them with bagels and cream cheese.[1]
Gold died in his home in the Mid-Wilshire area of Los Angeles from an apparent heart attack.[1]