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J. Korvette.
E. J. Korvette was a New York City-based retailer founded by Eugene Ferkauf in 1948. Eugene Ferkauf began his discounting career in a 400-square-foot loft in mid-Manhattan, New York City with total capital of four thousand dollars. He began with a small luggage shop and a big idea ? selling hard goods at prices 10 to 40 percent below those found in department stores.
The concept worked and Ferkauf began to add appliances and other items. Sales mushroomed in the 1950s rising from $55 million a year to $750 million a year over a ten-year period. At one point in the early 1960s Korvette was opening one huge new store every seven weeks...
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