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Ollie's Bargain Outlet Holdings, Inc., commonly referred to as Ollie's Bargain Outlet is an American chain of discount closeout retailers.It was founded in Mechanicsburg, Pennsylvania, in 1982 by Morton Bernstein and Mark L. Butler with backing from Harry Coverman and Oliver E. "Ollie" Rosenberg; the latter of whom is the namesake of the company.
A closeout store is a retailer specializing in buying closeout items wholesale from others and selling them at low prices. Big Lots is a well-known closeout retail chain in the United States, but other stores such as TJ Maxx , Ross Dress For Less , Marshalls , and Value City are also common and specialize more in clothing and housewares.
In 1969, Zayre Corp. bought the Hit or Miss chain and began its exploration of the off-price fashion market. Zayre's timing could not have been better. During the recession of the 1970s, Hit or Miss's results climbed so rapidly that Zayre Corp. considered expanding its off-price upscale apparel merchandising. Zayre store and parking lot in 1971
As of 2018 there are more than 8,000 retail off-price stores in operation worldwide, within the 20 largest off-price networks (their total number equivalent to dozens and even a few thousand stores). The global turnover of the segment as of the year 2017 is more than 60 billion dollars (approx. 2% of the whole fashion industry volume, including ...
Wholesale fashion distribution refers to the global market of bulk clothing sales, in which producers, wholesalers and sellers are involved in a commercial, business-to-business process. Procedure [ edit ]
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