Harold Roitenberg
Harold Roitenberg | |
|---|---|
| Born | January 7, 1927 |
| Died | December 20, 2018 (age 91) |
| Nationality | American |
| Education | B.A. University of Minnesota |
| Known for | Founder of Modern Merchandising Inc. |
| Children | 5 |
| Parent(s) | Sarah and Norman Roitenberg |
Harold Roitenberg (January 7, 1927 – December 20, 2018) was an American businessman who founded the catalog merchandiser and showroom Modern Merchandising Inc.
Biography
[edit]Roitenberg was born to a Jewish family, the son of Sarah and Norman Roitenberg.[1] Roitenberg graduated with a B.A. in Journalism from the University of Minnesota.[2] After school, he worked in the advertising department of Northwestern Auto Parts in Minneapolis and then went to work for his father-in-law who owned Minnesota Wholesalers which sold horse supplies.[2] During his tenure, he expanded the company into a catalog showroom business that also sold small appliances, housewares, electronics, and jewelry.[2]
Upon his father-in-law's death, Roitenberg was unable to obtain a satisfactory equity interest in the company and ventured out on his own founding Creative Merchandising & Publishing[2] in 1960.[3] As he had little in the way of resources, he could not support his own showroom so he instead developed a new business model which focused on producing catalogs for small businesses who wanted to develop a catalog presence but did not have the expertise, resources, and buying power to secure lower prices from manufacturers.[2] Roitenberg's company allowed them to purchase collectively and secure lower prices.[2] In 1961, he changed the name to Modern Merchandising Inc.[3] Due to its origin as a catalog publisher, Modern Merchandising published its own catalog along with that of competitors Service Merchandise (founded by Harry Zimmerman) and Best Products (founded by Sydney Lewis); the three companies (whose owners were friends) had regional non-compete agreements with each other. In 1982, Modern Merchandising, then the 3rd largest catalog retailer, was acquired by Best Products in a stock transaction worth $109 million.[4] The merger was accretive as Best Products' showrooms were mainly on the East Coast, Texas, and California while Modern Merchandising was mostly in the Midwest and Northwest.[4]
Personal life
[edit]Roitenberg had five children: Steven Roitenberg, David Roitenberg, Sam Roitenberg, Jane Roitenberg Nolen, and Ursula Roitenber Galanos.[1] All his sons predeceased him.[1] Roitenberg was a victim of Bernard Madoff.[5]
References
[edit]- ^ a b c "Roitenberg, Harold age 91 of Minneapolis passed away Dec. 20, 2018". Star-Tribune. December 23, 2018.
- ^ a b c d e f Rao, Dileep (March 27, 2010). "Harold Roitenberg: Modern Merchandising". eEntrepreneurs.
- ^ a b Barmash, Isadore (June 17, 1982). "Route To The Merger of Catalogue Stores". The New York Times.
- ^ a b Vise, David A. (June 12, 1982). "Best Products to Acquire No. 3 Catalogue Chain". The Washington Post.
- ^ Specktor, Mordecai (February 5, 2009). "Madoff scam wipes out assets of Minnesota family foundations". MinnPost.