Harold Alfond

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Harold Alfond
factory outlet store
Spouse
Dorothy Levine
​
​
(m. 1943; died 2005)​
ChildrenTed Alfond
Susan Alfond
Bill Alfond
Peter Alfond
RelativesJustin Alfond (grandson)

Harold Alfond (March 6, 1914 – November 16, 2007) was an American businessman who founded the

factory outlet store
.

Early life

Alfond was born in

Russian Jewish
immigrants Simon and Rose Alfond. Harold, his brother David, and four sisters, Anne, Bertha, Gladys and Grace, grew up in Swampscott and attended Swampscott schools. In high school, Harold was an outstanding athlete and developed his passion for sports.

Founding Dexter Shoes

After graduating from high school in 1934, Alfond got a job at Kesslen Shoe Company in Kennebunk, Maine, where his father worked. In a short time, he rose from odd shoe boy to factory superintendent. In 1940, Alfond and his father bought a shoe factory in Norridgewock, Maine, and founded Norrwock Shoe Company. They sold the company to Shoe Corp. of America in 1943 and Simon Alfond stayed on as president for 25 years.

In 1956, Alfond left, purchased an old woolen mill in

Montgomery Ward & Co. Although Dexter was successful from the beginning, Alfond tired of being controlled by a few large customers and decided to go into the "branded" business.[citation needed
] He developed a line of shoes under the Dexter name, hired a sales force and began selling to independent shoe stores across the country.

Alfond is often credited with the invention of the

outlet malls
.

Dexter continued to grow rapidly throughout the 1970s and 1980s and from time to time, corporate suitors came calling to see whether they could entice Dexter into a marriage. Many were national

retail chains that promised rapid expansion, but would emphasize foreign production and likely, a departure from Dexter's family style of running the business. Alfond eventually decided to sell to Berkshire Hathaway, with an agreement to not interfere with the family's continued management of the business. In 1993, Dexter and its affiliates, Pan Am Shoe and Ocsap Ltd., were sold for $433 million in stock; eight years later Warren Buffett decided to fold Dexter into another business, H.H. Brown, characterizing the purchase in 2008 as "the worst deal that I've made."[2][3]

Philanthropy

In order to coordinate his charitable giving, the 36-year-old Alfond organized the first private foundation in the state of Maine,[citation needed] the Harold Alfond Foundation. Between 1950 and 2003, the foundation has contributed more than $100 million to charitable causes,[4] and as of 2008 had over $106 million in assets.[5]

He has donated money to various institutions of learning to help improve their sports facilities; for example, the

Alfond Stadium at the University of Maine, the Harold and Ted Alfond Sports Center at Rollins College
, the Harold Alfond Center for Health Sciences and the Alfond Forum at the University of New England, the Harold Alfond Management Center at the University of Massachusetts Amherst's Isenberg School,[6] and the Alfond Center at Saint Joseph's College of Maine. In December 2003, five years after his $1.65-million donation for the athletic and recreation center, Alfond contributed $1 million to St. Joseph's towards the $10 million needed to build Alfond Hall, the college's primary academic hall.[4]

Harold Alfond and the Alfond Foundation have also been major supporters of Kents Hill School in Readfield, Maine. Kents Hill opened the Alfond Athletics Center in 2001 and the Alfond Athletic Fields - the largest turf complex in New England - in 2008 after receiving substantial gifts.[7] In 2011, Kents Hill received a $2.3 million gift for the construction of its Akin Learning Center.[8] Most recently in 2015, the school received a $3.5 million matching grant for the construction of a new dining hall.[9]

In 2007, having lived with cancer for 17 years, Alfond donated $7 million to a cancer care center at MaineGeneral Medical Center in Augusta. The center is named the Harold Alfond Center for Cancer Care.[10]

The Alfond Scholarship Foundation introduced the "Harold Alfond College Challenge" in January 2009. Through the program, a $500 grant is given to every Maine resident who is enrolled before his or her first birthday; the money is intended to help Maine families plan for education beyond

high school.[11][12] As of July 2010, 5,500 babies have been enrolled in the program.[13]

Investments in sports

In addition to his donations to colleges for improvements to their sports facilities, Alfond demonstrated his support of sports in other ways.

In 1978, a group purchasing the Boston Red Sox was looking for a Maine sportsman to join them. Alfond was the obvious choice and ever since Dexter has been a limited partner in the franchise. When Dexter was sold to Berkshire Hathaway in 1993, the Alfond family retained its stake in the team, a stake that remains in the hands of two of his sons.[14]

In the 1980s, Alfond helped sponsor Kevin Mahaney in the sailor's effort to compete in the Olympics.[15] Mahaney later earned a silver medal in sailing at the 1992 Summer Olympics.

Along with other investors, Alfond helped create Belgrade Lakes Golf Club, a course close to his summer home.[14] The club has been recognized as among the best public golf courses in the country. In 2002, Golf Digest recognized the course as the only five-star public golf course in the Northeast.

Family life

In 1943, Alfond married Dorothy Levine,[14] who was also Jewish;[16] they raised four children: Ted, Susan, Bill, and Peter who grew to provide them with thirteen grandchildren.[14] His wife died in December 2005.[14][16]

One of the grandsons,

Senate President
in 2012.

Death

Alfond died on November 16, 2007, in Belgrade, Maine.[1][17]

References

  1. ^
    ISSN 0362-4331
    . Retrieved July 30, 2020.
  2. ^ "Buffet calls Dexter Shoe his worst deal ever". Reuters. February 29, 2008.
  3. ^ Stempel, Jonathan (February 27, 2010). "Buffett defends using stock in Burlington takeover". Reuters. Retrieved February 27, 2010.
  4. ^ a b "Harold Alfond keeps on giving". press release. Saint Joseph's College of Maine. December 5, 2003. Archived from the original on May 28, 2010. Retrieved February 27, 2010.
  5. Foundation Center. Archived from the original
    on July 8, 2012. Retrieved February 27, 2010.
  6. ^ "$1 Million Pledge by Harold Alfond Adds Momentum to UMass Amherst Building Project". press release. University of Massachusetts Amherst. November 3, 1998. Retrieved February 27, 2010.
  7. ^ "Kents Hill School Athletic Facilities".
  8. ^ "Kents Hill School receives $2.3 million..." (PDF).
  9. ^ "KHS Receives Alfond Grant". Archived from the original on April 19, 2016.
  10. ^ Remal, Gary. "Alfond Center for Cancer Care officially opens". Kennebec Journal. Retrieved August 8, 2007.[permanent dead link]
  11. ^ "What is the Harold Alfond College Challenge?". www.500forbaby.org. Archived from the original on September 15, 2009. Retrieved February 27, 2010.
  12. ^ Adams, Glenn (December 11, 2007). "Maine Newborns to Get $500 for College". ABC News. Associated Press. Archived from the original on February 15, 2009. Retrieved December 12, 2007.
  13. ^ "The 2500th Alfond Baby" (PDF). www.500forbaby.org. Retrieved February 27, 2010. [dead link]
  14. ^
    Boston Globe
    . Retrieved February 27, 2010.
  15. ^
    The Bollard. Archived from the original
    on January 7, 2011. Retrieved February 27, 2010.
  16. ^ a b Colby College Digital Commons: "Bibby Levine Alfond Scrapbook" January 1, 2011
  17. ^ Dolloff, Aimee. "Philanthropist Harold Alfond dies in Maine". Bangor Daily News. Archived from the original on November 25, 2007. Retrieved November 16, 2007.
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