| (1803
- 1876) |
| Inducted: |
1975 |
| Region: |
Northeast |
| Industry: |
Retail
|
|
Alexander T. Stewart, a teacher in New York, inherited $5,000 and used it to start a dry goods store. He prospered and expanded into wholesaling. In 1846, Stewart opened one of the commercial wonders of the world, the Marble Palace. Stewart’s customers were awed by the building and by his way of selling. Stewart invented “one price for all.” This system was so successful that for many years a tenth of the goods entering the Port of New York were addressed to A.T. Stewart & Co. |
