When young Charles asked his father why they didn't sell new bikes, his father told him something he never forgot-that he couldn't compete with the large chain stores that could sell them for much less. House, purchasing broken bikes and repairing them for resale. His father sold used bicycles out of the family's He was inducted into the Toy Industry Hall of Fame in 1990 by the American Toy Institute.Ĭharles Lazarus was born in 1923 in Washington, D.C. Lazarus has two daughters from his first wife, Ruth and Diane. A messy legal suit ensued after Kaplan notified Lazarus of her intention to seek a divorce the day before her death in order to trigger a post–nuptial agreement ordering Lazarus to give her a sum of $20 million that she intended to go, after her death, to her children from a previous marriage. He was widowed from his previous wife of 16 years, Helen Singer–Kaplan, the famous sex therapist who died of cancer in August 1995. Lazarus married wife Joan Regenbogen in 1995. Lazarus's homogenization of the huge warehouse–like stores and unprecedented selection of some 18,000 toys combined with deep discounts from bulk buying took the company from a single toy store begun in his father's basement to an $11 billion business enterprise with more than 1,450 stores worldwide. The company would remain the number one toy retailer for decades. This system kept the company he built from scratch on top of the most important trends in the toy industry. A retail and merchandising genius, he had the foresight to see the potential in specializing in toys alone and to invest in a revolutionary computerized inventory system. Charles Lazarus is one of the nation's most enterprising and successful entrepreneurs.
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