Scott D. Malkin

Last updated
Scott D. Malkin
Born1959 (age 64–65)
NationalityAmerican
Education Harvard University (BA, JD, MBA)
Occupationbusinessman
Known forfounder of Value Retail Plc
SpouseLaura Rice Russell
Parent(s)Isabel Wien Malkin
Peter L. Malkin
Family Lawrence Wien (grandfather)
Website Official Website

Scott David Malkin (born 1959) is the founder of Value Retail Plc [1] and co-owner of the New York Islanders professional hockey team. [2]

Contents

Early life and education

Malkin was born to a Jewish family, the son of Isabel (née Wien) and Peter L. Malkin. His father is a real estate investor in New York who owned the Empire State Building. His grandfather, Lawrence Wien, was also a real estate investor who pioneered the real estate syndication. He was raised in Connecticut and received degrees from Harvard College, Harvard Law School and Harvard Business School. [3]

Career

In 1990, Malkin sold his retail store concept, 2 Rodeo Drive in Beverly Hills, California to the Japanese department store operator Sogo and then moved to London [1] where in 1992, he founded Value Retail Plc. [3] With Value Retail, he leveraged his experience in selling luxury goods and meshed it with the American outlet mall concept creating an alternative operating model to the traditional European shopping center. Value Retail focused on establishing outlet centers in the outskirts of large cities. [1] The fashion brands pay 12.5 per cent of annual turnover for the privilege of selling excess stock in one of their village outlet centers. [1] Although criticized for taking business from smaller retail stores in urban centers, the outlet centers only sell brand name goods that are a year old or older. [1]

As of 2014, Value Retail had nine "villages" in Europe near London, Milan, Munich, Dublin, Barcelona, Madrid, Paris, Brussels, Antwerp, Cologne, Düsseldorf, and Frankfurt. [4] He is expanding to China in 2015 with two new villages in Suzhou and Shanghai. [4] By 2011, Value Retail had $1.5 billion in sales. [5]

New York Islanders

In October 2014, it was announced that Malkin and his former college roommate Jon Ledecky would purchase the New York Islanders professional hockey team from Charles Wang. [6] [7] After a two-year transition period as minority owners, Malkin and Ledecky bought controlling interest in 2016. [8]

Personal life

In 1984, he married Laura Rice Russell. [9] His sister, Cynthia Allison Malkin, is married to Richard Blumenthal who was elected as a United States senator from Connecticut in 2010. [10] His brother Anthony Edward Malkin, is married to Rachelle Lisa "Shelly" Belfer, daughter of Robert A. Belfer and granddaughter of Arthur Belfer. [11] [12]

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References

  1. 1 2 3 4 5 Leibensmittel Zeitung: "Talk with Value Retail Chairman Scott Malkin" by Mike Dawson April 22, 2010
  2. ↑ ESPN: "NHL approves Islanders sale" By Katie Strang October 1, 2014
  3. 1 2 New York Times: "Scott Malkin, founder of Value Retail Plc" March 10, 2009
  4. 1 2 Value Retail website: "The Villages" retrieved October 24, 2014
  5. ↑ Forbes: "Value Retail's Scott Malkin and Father, Malkin Holdings' Peter Malkin: Is Entrepreneurship Inherited?" May 6, 2011
  6. ↑ Newsday: "Islanders' sale from Charles Wang to Jonathan Ledecky, Scott Malkin finalized" By NEIL BEST October 9, 2014
  7. ↑ Shannon, John. "John Shannon's Power 25: 2018 Edition". Sportsnet. Retrieved April 23, 2018.
  8. ↑ Strang, Katie (August 19, 2014). "Islanders to be sold to Jon Ledecky". ESPN . Retrieved August 20, 2014.
  9. ↑ New York Times: "S.D. Malkin, Miss Russell Plan to Wed" January 22, 1984
  10. ↑ "Miss Malkin Plans Bridal". The New York Times. 1981-11-29. ISSN   0362-4331 . Retrieved 2024-07-05.
  11. ↑ "Shelly Belfer, a Teacher, Plans to Wed Anthony Malkin, a Banker, in August". The New York Times. 1987-05-24. ISSN   0362-4331 . Retrieved 2024-07-05.
  12. ↑ "Shelly Belfer Marries Anthony Malkin". The New York Times. 1987-08-28. ISSN   0362-4331 . Retrieved 2024-07-05.
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