Scott David Malkin (born 1959) is the founder of Value Retail PlcLeibensmittel Zeitung: "Talk with Value Retail Chairman Scott Malkin" by Mike Dawson April 22, 2010 and co-owner of the New York Islanders professional hockey team.ESPN: "NHL approves Islanders sale" By Katie Strang October 1, 2014
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.New York Times: "Scott Malkin, founder of Value Retail Plc" March 10, 2009
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 where in 1992, he founded Value Retail Plc. With Value Retail, he used 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. 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. 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.
As of 2014, Value Retail had nine "villages" in Europe near London, Milan, Munich, Dublin, Barcelona, Madrid, Paris, Brussels, Antwerp, Cologne, Düsseldorf, and Frankfurt.Value Retail website: "The Villages" retrieved October 24, 2014 He is expanding to China in 2015 with two new villages in Suzhou and Shanghai. By 2011, Value Retail had $1.5 billion in sales.Forbes: "Value Retail's Scott Malkin and Father, Malkin Holdings' Peter Malkin: Is Entrepreneurship Inherited?" May 6, 2011
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.Newsday: "Islanders' sale from Charles Wang to Jonathan Ledecky, Scott Malkin finalized" By NEIL BEST October 9, 2014 After a two-year transition period as minority owners, Malkin and Ledecky bought controlling interest in 2016.
Personal life In 1984, he married Laura Rice Russell.New York Times: "S.D. Malkin, Miss Russell Plan to Wed" January 22, 1984 His sister, Cynthia Allison Malkin, is married to Richard Blumenthal who was elected as a United States senator from Connecticut in 2010. His brother Anthony Edward Malkin, is married to Rachelle Lisa "Shelly" Belfer, daughter of Robert A. Belfer and granddaughter of Arthur Belfer.
References
External links Value Retail