Ed Mirvish - Honest Ed's

Honest Ed's

During World War II, Ed and Anne Mirvish opened a dress shop known as The Sport Bar. They ran this business until 1948, when Mirvish cashed in his wife's insurance policy to open a new business, a bargain basement known as "Honest Ed's", stocked with all kinds of odd merchandise purchased at bankruptcy and fire sales, and displayed on orange crates. This unique no-credit, no-service, no-frills business model was an immediate success. Mirvish claimed to have invented the "loss-leader", below-cost discounts on selected items designed to lure buyers into the store. "Honest Ed's" gradually expanded to fill an entire city block. Billing itself as "the world's biggest discount department store", it was soon bringing in millions of dollars a year. The store expanded and, in the late 1950s, Mirvish started buying up houses on Markham Street running south from Bloor. When his application to tear down the Victorian structures in order to build a parking lot was rejected by the city Mirvish, at the urging of his wife and son, rented them out at low rates to local artists and the street soon became a community of artists studios, galleries, boutiques and niche shops known today as Mirvish Village.