Harold Alfond facts for kids
Quick facts for kids
Harold Alfond
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| Born | March 6, 1914 Swampscott, Massachusetts, U.S.
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| Died | November 16, 2007 (aged 93) |
| Occupation | Founder of Dexter Shoe Company and philanthropist |
| Known for | First factory outlet store |
| Spouse(s) |
Dorothy Levine
(m. 1943; died 2005) |
| Children | Ted Alfond Susan Alfond Bill Alfond Peter Alfond |
| Relatives | Justin Alfond (grandson) |
Harold Alfond (born March 6, 1914 – died November 16, 2007) was a famous American businessman. He started the Dexter Shoe Company. He also created the very first factory outlet store. This changed how many products were sold.
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Harold Alfond's Early Life
Harold Alfond was born in Swampscott, Massachusetts, on March 6, 1914. His parents, Simon and Rose Alfond, were immigrants from Russia. Harold grew up with his brother David and four sisters. They all went to school in Swampscott. Harold loved sports in high school and was a great athlete.
Starting the Dexter Shoe Company
After finishing high school in 1934, Harold Alfond got a job. He worked at Kesslen Shoe Company in Kennebunk, Maine. His father also worked there. Harold quickly moved up from a helper to a factory boss.
Building a Shoe Business
In 1940, Harold and his father bought a shoe factory. It was in Norridgewock, Maine. They named their new business Norrwock Shoe Company. In 1943, they sold this company. Harold's father stayed on as president for 25 years.
In 1956, Harold Alfond started his own new company. He bought an old mill in Dexter, Maine. He named his new business Dexter Shoe Company. At first, he made shoes for big stores like Sears and JC Penney. These shoes were sold under the stores' own names.
Creating the Dexter Brand
Dexter Shoe Company was doing well. But Harold wanted to sell shoes under his own brand name. He wanted to be in charge of his own business. So, he created a line of shoes called "Dexter." He hired people to sell these shoes. Soon, Dexter shoes were sold in many independent shoe stores across the country.
The First Factory Outlet Store
Harold Alfond is known for inventing the factory outlet store. Sometimes, factories make shoes with small mistakes. These are called "factory seconds." Usually, these shoes were sold very cheaply to other sellers. Those sellers would then sell them for a much higher price.
Harold thought he could sell these shoes himself. In the 1960s, he opened an outlet store. It was at Dexter's factory in Skowhegan. He started selling his own factory seconds directly to customers. This worked very well. Soon, there weren't enough "mistake" shoes to sell.
So, Harold started selling regular shoes that weren't selling well in other stores. These were still first-quality shoes. This idea was a huge success! Dexter opened many log-cabin-style outlet stores. They were built along busy roads in New England. Other companies saw this success and opened their own outlet stores nearby. By the 1990s, Dexter had over 80 outlet stores.
Selling Dexter Shoe Company
Dexter Shoe Company grew quickly in the 1970s and 1980s. Many large companies wanted to buy it. Harold Alfond eventually decided to sell his company. He sold it to Berkshire Hathaway in 1993. This deal was worth $433 million in company stock. The agreement allowed the Alfond family to keep managing the business.
Harold Alfond's Generosity
Harold Alfond was a very generous person. He wanted to help others. In 1950, he started the Harold Alfond Foundation. This was the first private charity foundation in Maine. By 2003, his foundation had given over $100 million to good causes.
Supporting Sports and Education
Harold Alfond loved sports and education. He gave a lot of money to schools and colleges. This money helped them build better sports facilities. For example, he helped build the Alfond Arena at the University of Maine. He also supported sports centers at Rollins College and the University of New England.
He also helped build academic buildings. In 2003, he gave $1 million to Saint Joseph's College of Maine. This helped build Alfond Hall, a main academic building. He also supported Kents Hill School with gifts for athletic centers and learning centers.
Helping Cancer Care
Harold Alfond lived with cancer for 17 years. In 2007, he gave $7 million to a cancer care center. This center was at MaineGeneral Medical Center in Augusta. It is now called the Harold Alfond Center for Cancer Care.
Helping Maine Families Plan for College
In 2009, the Alfond Scholarship Foundation started a program. It is called the "Harold Alfond College Challenge." This program gives $500 to every baby born in Maine. The money is meant to help families save for college. By 2010, 5,500 babies had joined the program.
Harold Alfond's Sports Investments
Harold Alfond showed his love for sports in many ways. He did more than just donate money.
Boston Red Sox Ownership
In 1978, a group wanted to buy the Boston Red Sox baseball team. They looked for a sports fan from Maine to join them. Harold Alfond was the perfect choice. Dexter Shoe Company became a small owner in the team. When Dexter was sold, the Alfond family kept their share of the team. His sons still own a part of the Red Sox today.
Supporting Olympic Athletes
In the 1980s, Harold Alfond helped sponsor Kevin Mahaney. Kevin was a sailor who wanted to compete in the Olympics. Kevin Mahaney later won a silver medal in sailing at the 1992 Summer Olympics.
Creating a Golf Course
Harold Alfond also helped create the Belgrade Lakes Golf Club. This golf course is near his summer home. It is known as one of the best public golf courses in the country. Golf Digest magazine even called it a five-star public golf course.
Harold Alfond's Family Life
In 1943, Harold Alfond married Dorothy Levine. They had four children: Ted, Susan, Bill, and Peter. They also had thirteen grandchildren. Dorothy Alfond passed away in December 2005.
One of his grandsons, Justin Alfond, became a politician. He was elected to the Maine Senate in 2008. In 2012, he became the Senate President.
Death of Harold Alfond
Harold Alfond died on November 16, 2007. He passed away in Belgrade, Maine.
