History
The company began in 1924 in Wichita Falls, Texas, when Morris (M.B.) Zale, William Zale, and Ben Lipshy opened the first Zales Jewelers store. The Zale brothers launched a revolutionary marketing strategy with a credit plan of "a penny down and a dollar a week" making jewelry and other merchandise affordable to the average working American. The success of the credit policy, coupled with friendly customer service, led to a period of tremendous expansion for a total of 12 stores in Oklahoma and Texas by 1942. Zales Jewelers moved its headquarters from Wichita Falls to Dallas, TX in 1946. In 1957 Zales Jewelers broadened its reach, opening the first store in a shopping center - a major shift from operating only in downtown locations. The same year, Zales announced the initial public offering of its stock (ZLC) and began trading its public shares on the American Stock Exchange in 1958. In 1998, online shopping is launched at www.zales.com. In 1999 and 2000, Zale expanded with two major acquisitions: Peoples Jewellers of Canada and Piercing Pagoda. In 2007, the Company divested its Bailey Banks and Biddle brand to Finlay.
Read more about this topic: Zale Corporation
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