Age, Biography and Wiki

Harold Alfond was born on 6 March, 1914 in Swampscott, Massachusetts, U.S., is an American businessman. Discover Harold Alfond's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 93 years old?

Popular As N/A
Occupation Founder of Dexter Shoe Company and philanthropist
Age 93 years old
Zodiac Sign Pisces
Born 6 March 1914
Birthday 6 March
Birthplace Swampscott, Massachusetts, U.S.
Date of death 16 November, 2007
Died Place Belgrade, Maine, U.S.
Nationality United States

We recommend you to check the complete list of Famous People born on 6 March. He is a member of famous Founder with the age 93 years old group.

Harold Alfond Height, Weight & Measurements

At 93 years old, Harold Alfond height not available right now. We will update Harold Alfond's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Who Is Harold Alfond's Wife?

His wife is Dorothy Levine (m. 1943-2005)

Family
Parents Not Available
Wife Dorothy Levine (m. 1943-2005)
Sibling Not Available
Children Ted Alfond Susan Alfond Bill Alfond Peter Alfond

Harold Alfond Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Harold Alfond worth at the age of 93 years old? Harold Alfond’s income source is mostly from being a successful Founder. He is from United States. We have estimated Harold Alfond's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income Founder

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Timeline

1914

Harold Alfond (March 6, 1914 – November 16, 2007) was an American businessman who founded the Dexter Shoe Company and established the first factory outlet store.

Alfond was born in Swampscott, Massachusetts, on March 6, 1914, the son of 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.

1934

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.

1940

In 1940, Alfond and his father bought a shoe factory in Norridgewock, Maine, and founded Norrwock Shoe Company.

1943

They sold the company to Shoe Corp. of America in 1943 and Simon Alfond stayed on as president for 25 years.

1950

Between 1950 and 2003, the foundation has contributed more than $100 million to charitable causes, and as of 2008 had over $106 million in assets.

He has donated money to various institutions of learning to help improve their sports facilities; for example, the Alfond Arena and 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, and the Alfond Center at Saint Joseph's College of Maine.

1956

In 1956, Alfond left, purchased an old woolen mill in Dexter, Maine, and founded Dexter Shoe Company.

There, he produced shoes for the private label catalog market, supplying stores such as Sears, JC Penney, Spiegel, and 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.

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 factory outlet store.

Because factories make mistakes, not all shoes pass quality control; these products are called factory seconds.

The practice in the industry was to sell these shoes to jobbers for about a dollar a pair, who would then resell them for five times their cost.

1960

Alfond thought that was a pretty good mark-up, so in the 1960s he opened an outlet store at Dexter's Skowhegan factory and started selling his own factory seconds.

Soon, the factories weren't making enough mistakes to supply the store, so Harold decided to put in stale inventory (first grade shoes that weren't selling in the wholesale market).

This worked so well that Dexter's log-cabin-style outlet stores started appearing on all the heavily traveled roads throughout New England.

Other manufacturers caught on to the idea and as Dexter put up new stores, other manufacturers would open their outlets next door.

1970

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.

1978

In 1978, a group purchasing the Boston Red Sox was looking for a Maine sportsman to join them.

1990

By the 1990s, the Dexter Factory Outlet chain had expanded to over 80 stores.

About this time, Dexter also stopped building freestanding log cabins and began leasing stores in outlet malls.

1993

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 admitting in 2008 that it was "the worst deal that I've made."

In order to coordinate his charitable giving, the 36-year-old Alfond organized the first private foundation in the state of Maine, the Harold Alfond Foundation.

2001

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.

2003

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.

Harold Alfond and the Alfond Foundation have also been major supporters of Kents Hill School in Readfield, Maine.

2007

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.

2009

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.

2010

As of July 2010, 5,500 babies have been enrolled in the program.

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

2011

In 2011, Kents Hill received a $2.3 million gift for the construction of its Akin Learning Center.

2015

Most recently in 2015, the school received a $3.5 million matching grant for the construction of a new dining hall.